Auction Technology Group to acquire LiveAuctioneers for $525m.

Auction Technology Group, a curated auction marketplace provider, agreed to acquire LiveAuctioneers, an auctions platform for collectibles, antiques, jewelry and art, for $525m. "We are excited to announce the proposed acquisition of LiveAuctioneers. It enables ATG to enter the large and fast-growing North American art & antiques segment, further diversifying our business and bringing a complementary network of auctioneers and bidders to our Group. It will strengthen our ability to invest in improving the buying experience, thereby making online auctions more attractive to bidders around the world and thereby helping auctioneers realise higher asset values for their consignors. Our mission is to keep this important industry competitive in an increasingly digital world and, in turn, accelerate the pace of sustainable commerce by making it easier and more attractive to buy, and sell secondary market items through auctions. We are delighted to welcome the strong LiveAuctioneers team, which has as similar culture to ATG, and look forward to working closely together in the future," John-Paul Savant, ATG CEO.