TradeOut, an Internet marketplace for merchandise and equipment, is now part of DoveBid, a global leader in Webcast industrial auctions, valuation services, and other capital asset disposition services.
TradeOut, based in Valhalla, N.Y., offers surplus assets in 12 categories, one of which is commercial transportation. TradeOut has sold over $50 million of trucks, buses, containers, and trailers.
TradeOut brings an established customer base in commercial transportation to DoveBid and launches DoveBid's commercial transportation asset category.
This acquisition expands DoveBid's long-established capital asset disposition and appraisal business with GE to encompass TradeOut's commercial transportation business. GE Capital, which accounts for a large part of TradeOut's commercial transportation business through subsidiaries such as Penske Truck Leasing and Transport International Pool, has nominated Jim Robo, TIP CEO, to join DoveBid's board of directors.
"GE Capital is committed to the Internet and to working aggressively with world-class companies that have embraced the Internet," Robo said. "GE Capital's experience with TradeOut has proven to us that the global reach of the Internet maximizes asset values. This acquisition uniquely positions DoveBid as the premier provider of auction and appraisal services."
DoveBid will help TradeOut customers access an array of asset disposition services including Webcast auctions, featured online auctions, liquidations, private treaty sales, sealed bid auctions and valuations.
Founded in 1937, DoveBid Valuation Services is one of the world's largest capital asset appraisal companies.
TradeOut, based in Valhalla, N.Y., offers surplus assets in 12 categories, one of which is commercial transportation. TradeOut has sold over $50 million of trucks, buses, containers, and trailers.
TradeOut brings an established customer base in commercial transportation to DoveBid and launches DoveBid's commercial transportation asset category.
This acquisition expands DoveBid's long-established capital asset disposition and appraisal business with GE to encompass TradeOut's commercial transportation business. GE Capital, which accounts for a large part of TradeOut's commercial transportation business through subsidiaries such as Penske Truck Leasing and Transport International Pool, has nominated Jim Robo, TIP CEO, to join DoveBid's board of directors.
"GE Capital is committed to the Internet and to working aggressively with world-class companies that have embraced the Internet," Robo said. "GE Capital's experience with TradeOut has proven to us that the global reach of the Internet maximizes asset values. This acquisition uniquely positions DoveBid as the premier provider of auction and appraisal services."
DoveBid will help TradeOut customers access an array of asset disposition services including Webcast auctions, featured online auctions, liquidations, private treaty sales, sealed bid auctions and valuations.
Founded in 1937, DoveBid Valuation Services is one of the world's largest capital asset appraisal companies.
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