uBid.com Holdings, Inc. Acquires Auction Assets of Bidville, Inc.
BOCA RATON, Fla., July 27, 2006 (PRIMEZONE) -- Bidville, Inc. (Pink Sheets:BVLE), an innovative and growing online consumer marketer, announced today that it has completed the sale of its online auction business, including the Bidville.com name, URL and website to uBid.com Holdings, Inc. (OTCBB:UBHI), the owner and operator of uBid.com. The sale is part of a broad strategic restructuring and shift for focus of Bidville which earlier this month acquired DigiKidz, Inc., a rapidly growing online and retail channel producer and marketer of children's personalized DVDs.
Bidville, Inc., a Nevada corporation, was founded in 1999 as an Internet auction alternative to eBay. The company is well known for its innovative auction site user features, such as Storefronts, Watch Lists, Image Gallery, and fixed price listing options.
"We are pleased to have concluded the purchase of Bidville.com," stated Robert H. Tomlinson, Jr., Chief Executive Officer of uBid.com. "We believe that Bidville.com's consumer to consumer platform and other features such as store fronts is complimentary to uBid.com's B to C and B to B marketplace. This acquisition will help expand our overall business and it represents a great opportunity to cross-sell our current business to new customer prospects," he said.
uBid.com Holdings, Inc. -- uBid.com Holdings, Inc. operates an online auction marketplace located at www.uBid.com offering new, close-out, overstock and refurbished merchandise to both consumers and businesses through a trusted auction style and fixed price format. uBid.com provides consumers the opportunity to bid on or buy a wide variety of popular, brand name products at significant discounts. uBid.com's unique platform enables only certified suppliers and manufacturers a more efficient and economical channel for maximizing revenue of their surplus merchandise. Furthermore, uBid.com offers consumers a trusted buying environment, eliminating potential fraud by certifying all its merchants and processing 100% of all merchandise transactions between buyers and sellers. uBid.com Holdings, Inc. is publicly traded on the NASD OTC bulletin board (OTCBB:UBHI).
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
CONTACT: Bidville, Inc.
Press Relations
(561) 807-6336
uBid.com Holdings, Inc.
Press Relations
Anthony Priore, Chief Marketing Officer
(773) 272-5000
tpriore@ubid.com
Source: PrimeZone (July 27, 2006 - 11:08 AM EDT)
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