NEW YORK: #AssetRecovery--Dynaprice.com, Inc. today announced definitive agreement and completion of all closing conditions to merge with Dinamo Acquisition Corporation. Through this merger, control of the company passes to a strategic investment firm led by finance executive and technology entrepreneur Ilia Gogichaishvili, who will assume the role of the CEO for the combined enterprise.

Founded in 1999, Dynaprice is a leader in providing software and data services for investment recovery. It offers a fully integrated, cloud-based platform for surplus equipment management, enabling cataloging, redeployment, auctions, and sales via its marketplace. Dynaprice has served multinational Fortune 500 companies for over 20 years. It provides services across a diverse range of industries, including aerospace & defense, telecommunications, semiconductors, utilities, chemical manufacturing, industrial equipment & machinery, oil & gas, pharmaceuticals, and scientific & laboratory research, among others. It also supports used equipment dealers across various industry verticals.

“This combination marks a pivotal moment for Dynaprice, and we are excited to accelerate the growth and expand our services under new leadership,” said Ronald Randall, Founder of Dynaprice.com, Inc.

“We are thrilled to take Dynaprice to the next level and redefine the surplus equipment industry with a one-stop technology solution, expanding its footprint and setting new standards in investment recovery,” said Ilia Gogichaishvili, the new CEO of Dynaprice. “By intensifying our focus on market expansion, technological innovation, and sustainability, Dynaprice will drive greater efficiencies for businesses, enabling them to both capture new revenue streams and reduce capital expenditures through efficient asset utilization.”

The Business Combination

Dinamo Acquisition Corporation, a subsidiary of Dynaprice Holdings, merges with and into Dynaprice.com, Inc., with Dynaprice.com as the surviving company in the merger. As a result:

• Dynaprice.com will become a wholly-owned subsidiary of Dynaprice Holdings
• The core leadership team of Dynaprice, including Founder Ronald Randall and VP of Systems & Operations Scott Conklin, will remain actively involved in the company’s leadership, ensuring continuity and an uninterrupted commitment to its recognized high standard of customer service.
• Financial terms of the transaction were not disclosed

Fonte: Business Wire