Compusearch® announced today the completion of the acquisition of reverse auction marketplace provider FedBid, Inc. FedBid will continue to operate under its own brand.
This transaction brings together two industry-leaders in providing acquisition and spend management products and services in the federal sector. Compusearch’s PRISM and FedBid’s online reverse auction marketplace are used across the federal market to drive efficiency and cost savings in federal acquisition. With this move, FedBid will become Compusearch’s reverse auction provider within the PRISM solution. The combination of these two businesses will further innovate, streamline and strengthen the procurement process for federal customers, as well as continue to deliver savings to the government and taxpayers.