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Press Release
DOVEBID® ACQUIRES SIGNATURE AUCTIONS, LLC
- Leading Industrial Auctioneer Launches Heavy Construction Equipment Asset Category -
FOSTER CITY, Calif. (June, 17, 2002) - DoveBid, Inc., a global provider of capital asset auction and valuation services, today announced its expansion into the heavy construction equipment asset vertical through the acquisition of Signature Auctions, LLC.
"DoveBid's acquisition of Signature Auctions furthers our plan to establish domain expertise in each vertical market we compete in, " said Ross Dove, DoveBid chairman and chief executive officer. "Signature Auctions brings domain expertise and an established customer base in heavy construction equipment, industrial transportation equipment, mining and agricultural equipment to DoveBid."
"We are very enthusiastic to become an integral part of DoveBid’s global operations," said Greg Forke, former co-founder of Signature Auctions. "We are confident that our customers will immediately benefit from DoveBid’s expanded service offerings," added Kevin Duling, former chief executive officer of Signature Auctions.
Mr. Forke and Mr. Duling bring over 40 years of combined experience to DoveBid. Mr. Forke and Mr. Duling will now serve as Directors of Auction Services for DoveBid. Signature Auctions customers can now access an array of asset management services including Webcast auctions, featured online auctions, liquidations, private treaty sales, sealed bid auctions as well as valuation services.
About DoveBid®
DoveBid, Inc., is a global provider of capital asset auction and valuation services to large corporations and financial institutions with over 65 years of auction experience in the surplus capital asset industry. DoveBid has conducted over 5,000 capital asset auctions and sold over $5 billion of assets. DoveBid delivers an integrated set of services to its customers for the disposition, valuation and redeployment of their surplus capital assets. DoveBid offers an array of auction and managed services to meet its customers’ specific needs, including live Webcast auctions broadcast live over the Internet, on-site-only auctions, Internet featured online auctions and privately negotiated sales. DoveBid Managed Services offers clients a hosted, Internet-based application to monitor surplus assets inside the corporation.
DoveBid Valuation Services (DVS) is a leading valuation firm featuring a comprehensive valuation database. DVS uses its database of transaction information to provide valuations of capital assets for financial institutions and large businesses. Financial institutions utilize DVS to facilitate decisions regarding asset-based loans and capital equipment leases. DoveBid’s corporate valuation practice also assists corporations with important business issues related to financial reporting, tax reporting and management planning.
DoveBid focuses on 22 categories of capital assets and has over 35 locations throughout North America, Europe and the Asia-Pacific region. More information on DoveBid can be found at http://www.dovebid.com or by contacting company headquarters at (800) 665-1042 or +1 (650) 571-7400.
DoveBid and the DoveBid logo are registered trademarks of DoveBid, Inc.
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DoveBid Corporate Contact:
Shanta A. Kohli
Public Relations & Media Inquiries
DoveBid, Inc.
(650) 377-2650
skohli@dovebid.com
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