| Date: | February 2018 |
|---|---|
| Project: | Aquisition Support |
| Sector: | Tech & Media |
| Role: | Financial analysis and modelling support for the acquisition |
Forward Corporate Finance is pleased to announce the acquisition of the German art & antiques portal, Lot-tissimo.com by Auction Technology Group (ATG), an ECI Partners portfolio company.
Founded in 2002 by Jörg Wisniewski, Lot-tissimo is based in Hamburg, Germany. Initially focussed on auctions in Germany and Austria, the portal now lists art and antiques auctions from across Europe. In 2010 Lot-tissimo collaborated with ATG and launched its own live bidding service utilising technology provided by ATG.
The acquisition allows the combined businesses to invest even more heavily in technology, spend more on marketing to bring even more bidders and streamline processes to save auctioneers and bidders both time and money. Already sharing the same live bidding technology, the acquisition allows auctioneers to list and webcast their sales on Lot-tissimo.com, auction.fr and thesaleroom.com using one single operator app. The group will invest further to deliver fully integrated services to the German marketplace, adding new tools to improve efficiency for auctioneers and bidders.