RealTime IT News

e-bidd Plans Banner Auction Site said it has purchased the worldwide rights to Internet Auction Software and Internet Ad Management Software and plans to launch an online ad auction marketplace called site.

An overview of the technology purchased can be found here on the Web site.

The company said is scheduled to go live within 45 days. It would compete with the well-established

"Driven by the price efficiency associated with auction-style transactions, we are developing an auction format for that will ensure that both buyers and sellers receive the best price possible for ad space, with the site becoming the destination choice for all types of media: online, broadcast, print and out-of-home," said Kent Courtice, chief technology officer for recently acquired an interest in Staruni Corp., from which it bought the technology for an undisclosed sum.