Liquidity Services Acquires Bid4Assets For Undisclosed Sum

Liquidity Services Inc LQDT has acquired Bid4Assets, an online marketplace focused on conducting real property auctions for the government, for an undisclosed sum.
The company expects the transaction to accelerate its penetration of the large and fragmented municipal government real estate market.
Silver Spring, Maryland-based Bid4Assets has completed the sale of over $1 billion of asset sales to over 800,000 registered buyers through the use of its data-driven technology and online sales platform.
Jesse Loomis, CEO of Bid4Assets, will continue to manage Bid4Assets as a division of Liquidity Services post-closing and retain the current Bid4Assets' management team and employees post-closing.
Liquidity Services held $112.7 million in cash and equivalents as of June 30, 2021.
Price Action: LQDT shares closed lower by 1.72% at $21.70 on Monday.