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58k.com Acquired By Servador, Official Announcement

Thursday, July 26, 2001

Press release from the issuing company

New York, N.Y. – July 25, 2001 – Servador Inc. announced today that it has acquired the business of 58k.com Inc., the leading provider of auction technology for the commercial printing industry. The addition of this technology to Servador’s full service print outsourcing creates a single organization uniquely able to deliver unsurpassed print purchasing efficiency to its clients. The acquisition further enhances Servador’s industry leadership by providing it with additional service offerings, cutting-edge technology, expanded geographic reach and a larger pool of customers. “We are excited by the power of this combination,” said Doug Evans, CEO of Servador Inc. “58k has developed the best technology and one of the best known brand names in the graphic arts industry.” “I am very pleased to put 58k’s business in such strong hands. We selected Servador because their print outsourcing model fits perfectly with our auction product line,” said Richard Robb, 58k’s CEO and incoming member of Servador’s Board of Directors. Same Mission, Different Approaches “This was a logical next step in the development of both companies since we both share the same mission – a singular focus on helping our clients save time and money,” Mr. Evans continued. “Our clients have chosen to outsource their entire print buying process to Servador because of our reputation for unmatched customer service. 58k’s auction system is unquestionably the best in the industry. Together, we create a portfolio of solutions that is unequaled in the marketplace.” Over the last two years, both companies have helped their clients to dramatically reduce their print costs. 58k has conducted almost 5,000 auctions for over 1,000 unique commercial buyers. Servador has worked with dozens of major clients and currently has nearly twenty under full outsourcing agreement – representing millions of dollars of commercial print under contract. About Servador Inc. Servador is the leading provider of print outsourcing. As a true partner to mid- and large sized clients, Servador acts as an offsite print procurement staff and reduces their print related expenditures by an average of 20-40%. Servador takes complete responsibility for the quality of the printed materials and manages the production process from specifications through delivery, providing significant “soft cost” savings. Servador’s client base ranges from major nonprofits to large multinational corporations. About 58k.com Inc. With over 4,700 registered printers worldwide and nearly 5,000 completed auctions, 58k.com has quickly become the leading provider of print auction technology. Over the past two-and-a-half years, 58k.com has developed two product offerings: (1) a “private auction” service that allows buyers to procure jobs from a pre-established group of printers; and (2) a “public auction” marketplace that allows print buyers to anonymously submit print jobs and receive bids from the 58,000 printers across North America or the thousands of printers throughout Europe.

 

 

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