RealTime IT News Acquires Auction Business in Poland

Online auctioneer announced Monday that it has agreed to acquire Allegro, an online auction site in Poland, from e-commerce company SurfStopShop.

Although Allegro is the largest site of its kind in Poland, will be paying just $75,000 in cash for it. Many items offered for sale in online auctions often cost more, but as QXL explained to, the market in eastern Europe is undeveloped.

"This acquisition will enable to gain a firm foothold in eastern Europe, one of the most dynamic frontiers for Internet expansion," said Jim Rose, chief executive officer of

Arjan Bakker, managing director of SurfStopShop, will serve as managing director of an expanded QXL operation in Poland, with the Allegro team joining the increasingly pan-European online auctioneer.

Together with Matthias Schmidt-Pfitzner, QXL Germany's managing director, Bakker will oversee QXL's expansion into eastern Europe.

"We are thrilled to be a part of and to be providing it with a solid platform to initiate expansion into Eastern Europe," said Bakker.

Since its U.K. launch in November 1997, has expanded to its present position where it runs consumer-to-consumer and business-to-consumer auctions in eight languages and currencies.

Listed on the London Stock Exchange and the Nasdaq National Market, offers auctions in German, French, Italian, Dutch, Norwegian, Danish, and Spanish