[July 14, 2014]

Divvy LLC, a Proxibid Company, Acquires Online and Direct Sales Divisions from Value Recovery Services, LLC; Bolsters Reverse Supply Chain Electronics Business

Divvy, LLC (www.shopdivvy.com), a Proxibid Company dedicated to providing consumers with high-quality new and recertified consumer electronics, has acquired the online and direct sales divisions from South Sioux City, NE-based Value Recovery Services, LLC (VRS), which provides sophisticated reverse supply chain and logistics services for personal computer and consumer electronics. This acquisition brings together Proxibid's expertise in marketing and marketplace reach with VRS' distribution and channel relationships to create an end-to-end solution for reverse supply chain services for personal computers and consumer electronics.

Divvy, a wholly-owned subsidiary of Proxibid, is an authorized dealer for LG, Vizio, Acer, Gateway, Asus and Lenovo (News - Alert) products. All products from Divvy partners have been factory recertified, which means defects have been replaced, and products have been cleaned, tested and repackaged for sale via Divvy's website, or through one of its channel partners such as eBay (News - Alert), Amazon, Woot! and others. This new partnership provides Divvy with a state-of-the-art distribution facility, and access to strategic channel partnerships currently out of reach.

Under the agreement, Bob Burnett, VRS co-founder, will join the Proxibid executive team as Senior Vice President of Reverse Supply Chain. VS co-founder Keith Thomas will join Divvy as Vice President of Business Development. Ten additional team members focused on customer service, logistics and operations will join Proxibid, and will continue to work at VRS' South Sioux City facility.

"Liquidating assets as part of the reverse supply chain is a key piece of our future strategy," said Ryan Downs, President and CEO of Proxibid. "This acquisition is key to moving the company forward and achieving the goals we've set as an organization. We are thrilled with the expertise and industry relationships Bob, Keith and the VRS team bring to Divvy."

VRS was founded in 2004 to bring a higher level of quality and customer service to consumer electronics and personal computers in the reverse supply chain. The company has maintained relationships with leading manufacturers to gain access to exclusive merchandise and marketplace intelligence other dealers are unable to provide.

"We are pleased to join the Divvy and Proxibid Families," said Bob Burnett. "VRS' relationships, combined with Divvy's reach makes for a powerful combination. Now we will be able to offer an even greater level of service than others in the space - which our customers demand."

For more information about Divvy, please visit www.shopdivvy.com.
For more information about Proxibid, please visit www.Proxibid.com.
For more information about VRS, please visit www.valuerecoveryservices.com.

About Proxibid
Proxibid provides asset owners of all sizes and buyers with access to the world's most trusted online Marketplace and selling solutions for excess inventory. More than $2 billion in inventory passes through Proxibid's Marketplace annually in product categories that include heavy equipment; commercial and industrial equipment; real estate; fine art, antiques and collectibles and more.

Founded in 2001, Proxibid is headquartered in Omaha, NE with offices in New York and London. For more information about Proxibid, please visit www.proxibid.com.

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