OpenSite to Acquire Bidder's Edge

FRAMINGHAM (02/09/2000) - Software company OpenSite Technologies Inc. has announced it has signed a letter of intent to acquire Bidder's Edge Inc., an online auction listing aggregator in Burlington, Mass.

OpenSite, in Research Triangle Park, N.C., said the deal will entail an exchange of stock but declined to release any other terms at this time.

OpenSite said once the acquisition is finalized, it will combine the technology of its BidStream.com multisite search engine with the "reach and presence" of Bidder's Edge, allowing the combined companies to offer clients the tools necessary to launch and advertise online auction sites.

OpenSite's announcement comes as Bidder's Edge is locked in a legal battle with online auction site eBay Inc. In December, eBay sued Bidder's Edge to try stop the company from accessing eBay computers and using its data.

Yesterday, Bidder's Edge filed a countersuit against eBay Inc., charging the auction site is using unfair business practices and trying to stymie competition.