SMPL
Austin (Texas) [US], February 4: Liquidity Services, Inc. (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced the acquisition of Auction Software, to form the core of Liquidity Services Software Solutions, Inc, a new private-label and software-as-a-service (SaaS) arm of Liquidity Services, Inc.
The transaction strengthens Liquidity Services’ penetration of the large and fragmented Circular Economy marketplace, extending its software development team’s capabilities and its ability to support entrepreneurs, small and medium sized businesses, and global F500 corporations through complimentary private-label and SaaS marketplace solutions.
Founded in 2015 by Rajesh Rajaram, Auction Software specializes in the development of comprehensive auction and marketplace solutions for a wide range of organizations to successfully participate in the $100 Billion Circular Economy marketplace. Over the past decade, Auction Software has established itself as a trusted partner for businesses looking to implement forward, reverse, and hybrid online auctions by delivering innovative, private-label and SaaS auction websites.
“We are excited to welcome the collective Auction Software team and its customers to the Liquidity Services family,” said Bill Angrick, CEO of Liquidity Services. “This acquisition aligns with our commitment to empower organizations to create value in the Circular Economy marketplace using innovative solutions. We are dedicated to serving Auction Software’s clients with the highest level of professionalism, data security and reliability to enable their success, and together continue the digital transformation of how commerce is conducted in the Circular Economy.”
Liquidity Services will retain Rajaram and Auction Software’s employees post-closing and continue their focus on delivering market-leading auction software solutions for their clients. Terms of the transaction were not disclosed, and the transaction is not expected to be material to Liquidity Services’ overall results.
Axion Bots Software Private Limited, based in India, proudly operates as a subsidiary of AuctionSoftware. The remarkable success achieved by the company is a direct result of the unwavering dedication, innovation, and hard work of Axionbots’ employees. Their tremendous contributions have been instrumental in driving the organization towards new heights, and their efforts cannot be overstated.
This achievement marks a truly surreal moment for both AuctionSoftware and Axionbots, symbolizing the synergy and collaboration between the two entities. It is not just a corporate milestone but also a testament to the realization of the American dream for an Indian IT company. This accomplishment reflects the potential and talent that Indian tech firms can offer on a global platform, showcasing their ability to compete and excel internationally.
We hope this inspiring success story sets a trend for aspiring entrepreneurs, motivating them to pursue their dreams with passion and determination. May it instill the confidence needed to innovate, take bold steps, and ultimately achieve great things in their respective fields.
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