Consolidation in India's online auction websites
World IT Report, Apr 8, 2003
E-Commerce site Baazee.com has acquired the Indian operations of U.S.-based Bidorbuy.com in an all-stock transaction. Through the transaction, Baazee.com acquires all the assets of the Indian operations of Bidorbuy.com without significant dilution of equity for existing investors.
Baazee will absorb key Bidorbuyindia personnel, including CEO John Clegg.
The integration of the two companies is expected to be completed within the next two months. -(World IT Report)
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