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Press Release
DOVEBID® EXPANDS OPERATIONS INTO SOUTH AFRICA
DoveBid® Announces Partnership With Auction Alliance, Africa’s Leading Auction And Valuation Firm
FOSTER CITY, CA (October 13, 2003) - DoveBid, Inc., a global provider of capital asset auction and valuation services, announced today that it has entered into a strategic alliance with Auction Alliance, a leading provider of capital asset auction and valuation services throughout Southern Africa. This alliance will expand DoveBid’s asset disposition and valuation services into the growing South Africa auction industry and enhance its mining expertise.
"DoveBid’s global expansion is driven by a need to support our clients as they push for a worldwide single-source disposition and valuation solution. Our partnership with Auction Alliance clearly extends our global reach to five continents worldwide, and building on our relationship with Quadrem, further extends our auction platform into the mining industry by leveraging Auction Alliances relationships with key suppliers of mining assets awaiting disposition. We welcome Auction Alliance to the DoveBid worldwide family," said Ross Dove, chairman and chief executive officer of DoveBid. According to the agreement, Auction Alliance will be DoveBid’s exclusive partner for all auction, valuation and surplus asset management services in Africa.
"We are very enthusiastic about partnering with DoveBid organization in developing expansion into South Africa,” said Rael Levitt, CEO of Auction Alliance. “I am confident that our clients will immediately benefit from DoveBid’s expanded service offerings and innovative Web technologies."
About DoveBid®
DoveBid, Inc. is a global provider of capital asset auction and valuation services to large corporations and financial institutions. 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 services to meet its customers’ specific needs, including live Webcast auctions, on-site-only auctions, 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 uses its database of transaction information to provide valuations of capital assets for financial institutions and large businesses.
Headquartered in Foster City, California, DoveBid has over 65 years of auction experience in the capital asset industry with more than 40 locations throughout North America, Europe and the Asia-Pacific region. More information on DoveBid can be found at www.dovebid.com or by contacting company headquarters at (800) 665-1042 or (650) 571-7400.
DoveBid and the DoveBid logo are registered trademarks of DoveBid, Inc.
About Auction Alliance
Auction Alliance is one of South Africa’s leading Auction Groups, with wholly owned branches nationwide. Auction Alliance provides capital asset and real estate auction and valuation throughout Southern Africa. Auction Alliance’s website, www.auctionalliance.com is the highest volume auction website in South Africa, generating over 100,000 hits per month. Auction Alliance’s Valuation Division provides leading specialists in asset and real estate valuations to companies and financial institutions.
Headquartered in Johannesburg, South Africa, Auction Alliance has over 75 years of auction experience in the capital asset industry with 7 locations throughout South Africa. More information on Auction Alliance can be found at www.auctionalliance.com or by contacting company headquarters at 011 805 0400.
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DoveBid Contacts:
Josh Prince
Director, Corporate Development
DoveBid, Inc.
(650) 377-2604
jprince@dovebid.com
Shanta A. Kohli
Marketing Communications Manager
DoveBid, Inc.
(650) 377-2650
skohli@dovebid.com
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