OpenTech Acquires Two More Online Self-Storage Auction Platforms

Posted by Modern Storage Media on Nov 19, 2024, 3:40:06 PM

OpenTech Alliance, a PropTech leader in self-storage that assumed ownership of StorageTreasures.com in September of this year, has announced that it has now acquired SelfStorageAuction.com, a U.S.-based online auction platform, and iBid4Storage.com, the leading online auction website in Canada. OpenTech had also acquired another US-based auction website, StorageStuff.Bid, back in 2018.

This new deal also includes licensed versions of iBidOnStorage in the UK, Europe, South Africa, and Australia, supporting over 150 self storage brands in the UK alone. These platforms will continue to operate independently, with OpenTech expanding its support of these partnerships. The company will also explore opportunities to leverage its resources in these regions to drive further growth for the iBidOnStorage businesses.

“We’re excited to grow our online auction footprint in the US and around the globe,” said Robert A. Chiti, Chief Executive Officer at OpenTech Alliance. “Over the next 12–24 months, we’ll work closely with our customers to identify the best ways to enhance auction performance, while also introducing innovative tools and services that will create added value for both buyers and sellers.”

According to a press release, users of all platforms can expect a seamless transition, with no immediate changes to their experience. OpenTech says it plans to integrate existing customer service teams into its auction operations to expand the number of representatives supporting customers of the new sites, increase marketing efforts to improve average sale prices, and leverage the combined resources of its engineering, accounting and sales teams.

OpenTech’s goal is to use its advanced data insights and marketing expertise to attract more bidders and boost auction visibility on both SelfStorageAuction.com and iBid4Storage.com. User feedback will guide the development of new services and features to benefit both sellers and buyers, helping to ensure that the platforms continue to evolve to meet the demands of the growing online auction market.