Liquidity Services, Inc. (LSI), a leading online-auction marketplace for wholesale, surplus and salvage assets, announced it has completed the acquisition of the wholesale business of STR Inc. for approximately $10.1 million in cash. The final purchase price is based on purchase price adjustments as outlined in the purchase agreement. STR is a California-based remarketer of reverse supply chain merchandise, including retail customer returns, overstocks, shelf pulls, and seasonal merchandise, to wholesale buyers. The acquisition will expand LSI's presence on the West Coast through the addition of an approximately 117,000 square foot leased distribution center in southern California, providing efficiencies for both domestic and international buyers and sellers. LSI had announced its intention to acquire STR in late August.

http://auctionbytes.com/cab/abn/y06/m08/i31/s01