PurchasePro.com Inc., the Las Vegas-based online marketplace developer, plans to acquire auction technology developer BayBuilder for $15 million in cash and stock, according to Reuters. Chris Benyo, PurchasePro's senior vice president of marketing, said PurchasePro had auction technology, but it did not allow buyers to conduct auctions in real time. "BayBuilder's technology is different because it
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PurchasePro.com Inc., the Las Vegas-based online marketplace developer, plans to acquire auction technology developer BayBuilder for $15 million in cash and stock, according to Reuters.
Chris Benyo, PurchasePro's senior vice president of marketing, said PurchasePro had auction technology, but it did not allow buyers to conduct auctions in real time.
"BayBuilder's technology is different because it brings suppliers online at exactly the same time," he said. "And the buyer just sits there and watches the price go down."
