Liquidity Services, Inc. (LQDT) announced on Monday that it has finalized the acquisition of Auction Software/Simple Auction Site, a company renowned for its expertise in crafting comprehensive auction and marketplace solutions for various organizations. The financial specifics of this deal remain undisclosed.
Liquidity Services plans to integrate Auction Software/Simple Auction Site into its newly established entity, Liquidity Services Software Solutions, Inc. This division will focus on private-label offerings and software-as-a-service (SaaS) solutions.
The strategic acquisition is designed to bolster Liquidity Services' presence in the expansive and segmented Circular Economy marketplace, enhance its software development capabilities, and cater to a wide array of businesses.
It is important to note that this transaction is not anticipated to significantly impact Liquidity Services' overall financial performance.
As of Friday's market close, Liquidity Services was valued at $34.65 per share, experiencing a decline of 7.10 percent on the Nasdaq.
