58k.com Will Be Acquired By Servador, To Be Official Later Today
Wednesday, July 25, 2001
7/25/01 - (WhatTheyThink.com) - Servador will announce later today that they will acquire 58k.com. The purchase will include all US based efforts, technology and key employees associated with the company’s public and private auction business. Servador officials told WhatTheyThink.com that 58k would round out their ability to be the complete solution for print buyers around the country. 58k.com has conducted some 5,000 public and private auctions. The company has over 1,000 registered print buyers and over 4,000 printers registered at the site. Servador and 58k.com are located in New York City in the same office. Operations will continue as normal for both companies. Servador provides complete solutions for companies spending over $500,000 annually on print. The firm acts as the print buying solution for many companies throughout the Northeast. Officials said the acquisition will allow Servador to use the much acclaimed 58k.com technology as an added service to their large corporate accounts. Servador does not own print equipment, but rather acts as an offsite print procurement staff for clients ranging from major nonprofits to large multinational corporations. Servador takes complete responsibility for the quality of the printed materials and manages the production process from specifications through delivery. The company claims to save their clients up to 40% on annual print expenses. Officials at the Servador said that 58k.com CEO Richard Robb will join the Board of Directors at Servador. 58k.com has developed private auctions that allow buyers to procure jobs from a pre-established group of printers. The company also provides a public auction marketplace that allows print buyers to anonymously submit print jobs and receive bids from printers across North America. More details will be announced later today.