Liquidity Services Acquires Bid4Assets For Undisclosed Sum

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.
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