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July 18, 2007
Prima
Problem Solving, Inc., Brokers Sale of EdynaQuote™ eProcurement
Company Based in Erie, PA
Prima
Problem Solving, Inc. (PRIMA), a multi-faceted business management
firm based in Pittsburgh and State College, PA, recently successfully
brokered the sale of Erie-based eDynaQuote™,
owned by the Center for eBusiness and Advanced IT (eBizITPA), to
Vista Auctions LLC. eDynaQuote™
provides internet-based competitive bidding services and consulting.
The buyer, Vista Auctions LLC, is a Pennsylvania company based in
State College, PA with principals in San Diego, CA and Tarrytown,
NY.
"The eBizITPA engagement is typical of the type of environment where
PRIMA excels. In this opportunity, we first served as interim CEO
for the company and worked with the team to improve the company's
performance, which then enhanced the brokerage activity," said Rocco
Petrilli, PRIMA Managing Director. "Through the experience we gained
in the daily management of eDynaQuoteª operations, we were able
to increase its enterprise value and apply this knowledge to the
identification of and subsequent negotiation with prospective buyers."
"We appreciate PRIMA's tireless and industrious efforts focused
on identifying the 'right' buyer for eDynaQuote™,"
noted Susan Breon, President of eBizITPA. "As a result, we have
found a buyer interested in retaining the eDynaQuoteª management
and a presence in Pennsylvania."
"PRIMA's direct involvement in the eDynaQuote™
sales and marketing efforts and daily operations was also an important
component in the successful conclusion of this process," she added.
Bret Grady, newly named CEO of eDynaQuote™
and Vista Auctions, LLC, added, "At every point in the sales process,
PRIMA worked professionally to negotiate the best deal for both
the seller and the buyer. The professionalism and high integrity
of the entire PRIMA team made for a very smooth transaction."
eBizITPA, a Pennsylvania economic development resource initiative
that offers training, programs and resources to help PA businesses
apply e-business technology to business processes, will use proceeds
from the sale to help finance services.
Prima Problem Solving offers a wide range of solutions, consultation
and assistance in the areas of temporary executive assignments,
business valuation, business brokerage and strategic and business
planning and execution. The firm specializes in working in partnership
with clients to solve problems they cannot solve themselves.
CONTACT:
Kathryn Lima
724-981-4318 / 724-301-6984 (cell)
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