Liquidity Services, a provider of online marketplaces and services for surplus assets, announced it has agreed to acquire GoIndustry DoveBid, a provider of surplus asset management, auction and valuation services, for 73 pence per share and assumed indebtedness, or total consideration of approximately $31 million USD.

The all-cash transaction is expected to close on or about July 1, 2012 and is subject to regulatory and GoIndustry shareholder approval, as well as other customary closing conditions.

Liquidity said the acquisition of GoIndustry strengthens its online marketplace for surplus capital assets by adding over 50 active Fortune 1000 corporate clients and over 407,000 professional buyers. The transaction expands Liquidity Services’ client roster with leading global manufacturers across the aerospace, consumer packaged goods, electronics, pharmaceutical, technology and transportation industry verticals, including: BAE, Bosch, Covance, Ford-Europe, Honeywell, Ingersoll-Rand, Pfizer, Renault, Visteon and asset-based lenders, Barclays, HSBC, Lloyds, JP Morgan, PNC, RBS and Siemens Financial.

“This strategic combination enhances the size and scale of our online capitals asset marketplace in several key industry verticals and enables us to serve our respective Fortune 1000 clients and buying customers with the broadest array of innovative services and a truly global footprint to maximize efficiency and financial recovery,” said Bill Angrick, Chairman and CEO of Liquidity Services.

“The combination of GoIndustry DoveBid with Liquidity Services will strengthen and expand our award-winning service offerings to large corporations, while offering the best opportunities for our customers, employees and shareholders,” said Jack Reinelt, CEO of GoIndustry DoveBid.

During calendar year 2011, GoIndustry recorded approximately $211 million of gross merchandise volume.