DoveBid.com Acquires Eight Capital Asset Firms

DoveBid Inc., which operates an online B2B
marketplace for corporate capital assets that features auctions and
value-added services, acquired eight small firms active in auctioneering,
appraisal and asset management.

Terms for the various deals were not disclosed, but DoveBid said the
acquisitions add more than employees to its business operation and bolster
its clicks and mortar strategy.

The acquired companies are:

• AccuVal Associates Inc., an industrial and commercial appraisal and
  consulting firm, and its sister company LiquiTec Industries, an auction
  house
• B&B Custom Circuit Supplies, an asset management firm in the printed
  circuit board equipment market
• Greenwich Industrial Auctioneers, an auction
  house
• OneWebPlace, an online auction company
• Phillip Pollack, a
  Chicago-based auction and appraisal house
• Test Lab Co., an asset management
  company in the electronic test and measurement equipment market
• Unidyne,
  Inc., an asset management firm in the printed circuit
  board equipment market

DoveBid said it gains additional sales offices across the U.S. and
establishes two new
industry specific groups within DoveBid: the Printed Circuit Group and the
Test and Measurement Group.

A new subsidiary — DoveBid Valuation Services — has been formed through the
combination of appraisal professionals from DoveBid, Norman Levy Associates,
AccuVal, Greenwich and Phillip Pollack.

The subsidiary will provide a broad
range of
appraisal and consulting services, including online services.

Technology from OneWebPlace will provide the basis for major enhancements to
the DoveBid capital asset auction Web site, and the OneWebPlace engineering
team will join DoveBid’s technology team.

“Our goal is simple: to be the largest online marketplace for the sale and
exchange of used capital assets in the world,” said DoveBid Chairman and Chief Executive Officer
Ross Dove.

DoveBid’s e-commerce auction site includes 19 categories of capital assets,
including: computers, disk drive and media manufacturing equipment; biotech
and lab equipment electronics; food and chemical processing; office
furnishings and equipment; audio-video-broadcast production equipment;
semiconductor fabrication equipment and telecommunication equipment.