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Press Release DOVEBID® ACQUIRES EIGHT CAPITAL ASSET FIRMS Aggressive Purchases Enhance ‘Clicks and Mortar’ Strategy Foster City, CA (27 April 2000) —DoveBid, Inc., a leading B2B on-line marketplace for capital assets featuring Webcast auctions and value-added services, today announced the acquisition of eight firms active in the areas of auctioneering, appraisal and asset management. These acquisitions add over 100 experienced employees to DoveBid. The acquired companies are:
Through these acquisitions - combined with the purchase of Norman Levy Associates - DoveBid continues to build its leadership position in the capital asset auction arena. The firm gains additional sales offices across the United States and establishes two new industry specific groups within DoveBid: the Printed Circuit Group and the Test and Measurement Group. A new subsidiary - DoveBid Valuation Services - has been formed through the combination of appraisal professionals from DoveBid, Norman Levy Associates, AccuVal, Greenwich, and Phillip Pollack. DoveBid Valuation Services is now the largest industrial appraisal company in the United States and will provide a broad range of appraisal and consulting services, including on-line services. Technology from OneWebPlace will provide the basis for major enhancements to the DoveBid capital asset auction website, and the OneWebPlace engineering team will join DoveBid’s technology team. DoveBid Chairman and CEO Ross Dove states, "We are a stronger and better company than ever as the result of these acquisitions. Our goal is simple: to be the largest on-line marketplace for the sale and exchange of used capital assets in the world. These acquisitions bring us closer to our goal." About DoveBid Headquartered in Foster City, Calif., DoveBid has corporate and partner offices in Atlanta, Boston, Charlotte, Chicago, Detroit, Flagstaff, Greenwich, Houston, Los Angeles, Minneapolis, San Jose, St. Louis, Toronto, London, Mexico City and Seoul. DoveBid’s e-commerce auction site includes 19 categories of capital assets, including: computers, disk drive and media manufacturing equipment; biotech and lab equipment electronics; electronic test and measurement; food and chemical processing; packaging and converting; woodworking equipment and mills; metalworking and machine tools; office furnishings and equipment; plastics equipment; audio-video-broadcast production equipment; power production equipment; printing equipment; printed circuit board fabrication and assembly equipment; semiconductor fabrication equipment; telecommunication equipment; textile and apparel manufacturing equipment; and plant support equipment. DoveBid also provides valuation services for sellers, buyers and financial institutions. For more information, visit DoveBid’s web site at http://www.dovebid.com or call company headquarters in Foster City, CA, at (800) 665-1042 or (650) 571-7400. DoveBid and the DoveBid logo are trademarks of DoveBid, Inc. Contacts: Candace Matsuura |