Auctioning4u, a UK chain of eBay drop-off stores, acquired the assets of former competitor Trading Nation. In May, Auctioning4u received £2.1 million Foresight Venture Partners, which said at the time it expected Auctioning4u to be ready for IPO early in 2007.
This is Auctioning4u's third acquisition following the acquisition of Auctionicity in 2005, and Auction
Partner earlier this year. Auctioning4u CEO Christian Braun said in a press release announcement, "Jeff and his team did a great job of building Trading Nation into a dynamic business-to-business specialist. It has become clear to all of us in the industry that it is a capital-intensive sector requiring purpose built facilities and proprietary software. We are grateful to Jeff for his co-operation in transferring the business and wish him the best in his new venture."
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