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BIDPATH ACQUIRE LEADING EUROPEAN AUCTION TECHNOLOGY PROVIDER IN STRATEGIC EXPANSION

08-09-2019 10:35 AM CET | IT, New Media & Software

Press release from: Bidpath

BIDPATH ACQUIRE LEADING EUROPEAN AUCTION TECHNOLOGY PROVIDER

UK – Bidpath Ltd. (“Bidpath”) - A Leading Global Auction Software Company – today announced the strategic acquisition of German based auction technology provider, AuctioNovo GmbH (“AuctioNovo”). The company, headquartered in Dresden, is the leading provider of auction technology in Germany and Austria, and has a 20-year history of serving the auction community.

The AuctioNovo technology framework was originally acquired from Kommunikationsagentur Schultze. Walther. Zahel. SWZ, and was known by the brand name NetZone. AuctioNovo was founded by Harry Ralf Herrling and Bernd Kelchner in 2012 and has since achieved year-on-year growth as the software has been comprehensively developed. AuctioNovo will continue as usual in its day-to-day business activity but will become a wholly-owned subsidiary of Bidpath. Harry Ralf Herrling and Bernd Kelchner will continue in their roles as CEO and the AuctioNovo team will remain in their current roles, to be joined by new team members to drive further development and sales of Bidpath products and services throughout Europe.

David Brindley, President of Bidpath said: “We are delighted to have successfully acquired the AuctioNovo business as part of our strategic growth in the EMEA region. We are fully committed to the ongoing development and support of AuctioOffice, AuctioWeb and AuctioLive, and our team are looking forward to working with Bernd and Harry to drive product development and client acquisition throughout the region. The culture and business practices of AuctioNovo were a good fit for the Bidpath group, where we put the interests of our clients at the heart of everything we do.”

Bernd Kelchner, CEO of AuctioNovo said: “It’s an exciting time for AuctioNovo where we’ve grown significantly over the past 20 years to secure the foothold in Europe, which we are now excited to be able to develop as part of a larger Global group. We are looking forward to being able to deliver more dynamic, innovative and high-quality products and services to our existing clients, as well as taking the suite of Bidpath technology in to new areas of the industry, and new markets throughout the EMEA region.

Board Advisors Deutschland AG acted as sole M&A advisor to AuctioNovo GmbH and its shareholders.

ENDS

Bidpath Ltd
1-5 The Stud Offices
Redenham Park, Andover
Hampshire, SP11 9AQ

Contact:

Caroline Newton
press@bidpath.com
+44 (0) 845 163 0584

Bidpath is a world leading SaaS provider specialising in delivering dynamic technology solutions to the global auction industry. Established in 1999, our auction software empowers over 600 industrial and fine art auction clients with best of breed online bidding technology from enterprise to regional level, and in more than 27 countries.
Our feature rich timed and webcast auction technology is used at more than 15,000 auctions every year in the Art, Antiques, Collectables, Numismatic, Automotive, Industrial Technology, Medical, Construction, Mining, Real Estate, Retail, General/Wholesale Merchandise, Government Surplus and Aviation industries.
Our offices in the US, UK, Europe, South Africa and Australia service clients including Macy’s, Tennants Julien’s, RM Sotheby’s, GraysOnline, Marknet Alliance, Hindman, Car Next-LeasePlan, Cheffins, Simon Charles and Racehorse Trader.

AuctioNovo is the leading provider of auctioning software in Germany and Austria. For over 20 years, AuctioNovo has gathered experience in auctions and software development. Numerous auctioneers from various industry sectors appreciate the modularity and the quality of our auctioning software which include; AuctioOffice: Software for comprehensive auction management; AuctioWeb: Software for standard and timed online auctions and AuctioLive: Software for live webcast auctions.

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