RealTime IT News

Making Hay When the Sun Sets

Bid4Assets Inc., which operates an asset disposition Web site for companies seeking to unload their belongings, has signed a deal to auction off the assets of Commco Technology LLC, a failed wireless telecom based in Connecticut.

Silver Spring, Md.-based Bid4Assets said the sealed bid sale of wireless telecom equipment will close Aug. 23. Bidders can access the sale via the Web site.

The Commco equipment is located in Las Vegas, and was originally purchased from national telecommunications manufacturer P-Com. The equipment includes digital microwave radio upload and download links, sector antennas, remote terminals and related monitoring equipment.

Stamford, Conn.-based Commco filed for Chapter 11 bankruptcy protection late last year.

"This is an ideal opportunity for CLECs, wireless carriers and other companies to purchase the equipment they need at competitive prices," said Bid4Assets President Jim Russell.

The number of telecom companies seeking advisory services and asset sale recommendations has increased in recent months, and as a result Bid4Assets has developed a sales and marketing group to serve these clients specifically.

Launched in November 1999, just in time for the onslaught of failed dot coms, privately held Bid4Assets says it has helped sell assets for Broadband Infrastructure Group, Value America, Egreetings.com, Musicmaker.com and dozens of other companies that chose to remain anonymous.