Liquidity Services, Inc. (LQDT), Monday announced the completion of acquisition of Auction Software/Simple Auction Site, which specializes in the development of comprehensive auction and marketplace solutions for a wide range of organizations. The terms of the deal were not disclosed.
The commerce company expects Auction Software/Simple Auction Site to be a part of its newly formed Liquidity Services Software Solutions, Inc., a company dedicated to private-label and software-as-a-service or SaaS.
The acquisition aims to strengthen Liquidity Services penetration of the large and fragmented Circular Economy marketplace, enhance its software development capabilities, and support diverse range of businesses.
Notably, the deal is not expected to be material to Liquidity Services's overall results.
Friday, Liquidity Services closed at $34.65, down 7.10 percent on the Nasdaq.
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