Online marketing and technology services company, Bidpath and eBreviate, an eSourcing technologies and services firm Thursday say they are partnering to bring a new realm to the online auction space – live.
The two companies are working to create a faster, more efficient way to conduct Internet-powered auctions of corporate, personal and government assets. Seattle-based Bidpath is combining its auction-based asset disposition technology and services, including live, online auction capabilities with Walnut Creek, Calif.-based eBreviate’s Internet Negotiations, such as reverse auctions and electronic surveys. The combination product has no name as of yet.
“The Bidpath-eBreviate alliance brings the immediacy of multimedia and the power of online auctions together for the first time for companies disposing of excess inventory and other assets,” says eBreviate president Niul Burton. “Together, the companies’ technologies will result in a rapid realization of revenues and stronger balance sheets.”
The alliance targets the rapidly growing business-to-business market. According to a national Gallup survey, the annual total U.S. size of this market is estimated to exceed $200 billion.
Bidpath Auction Manager technology automates the auction method of marketing, creating a live, online catalog of inventory images and data with a direct upload to an exclusive network of business-to-business exchanges and listing sites. Bidpath Live Auction hardware and software lets auctioneers broadcast bid and ask prices in real time, as well as receive and award online bids, over the Internet. With Bidpath, registered bidders can participate in an online auction directly through a common Web browser. No additional software or Internet plug-in is required.
eBreviate, a division of Electronic Data Systems (EDS) (NYSE: EDS), makes a auction software that the company says has already facilitated transactions totaling more than $7 billion worth of goods and services over the Internet.
No word yet on when a joint product will come online.