Wednesday February 28
International Parts Acquires iSalvage.com
JACKSONVILLE, Fla. -- International Parts, the auto parts locator, has announced it has acquired the assets of iSalvage.com, an online business-to-business marketplace for recycled auto parts. International Parts completed the transaction through the transfer of International Parts stock to the iSalvage owners.
iSalvage assets acquired by International Parts include proprietary software that will be integrated into the company's operating system over the next few months. The technology will add efficiency by downloading supplier inventory directly to the database and enhancing descriptions of parts and their condition. Development of new products and services, particularly in the business-to-business program, will advance quickly.
International Parts will combine its state-of-the-art call center and customer service capabilities with iSalvage's technology and supplier relationships to further its strategy of becoming the leading parts and services provider to the automotive recycled and rebuilt parts industry.
"This is a good strategic fit for International Parts," said Lonnie Margol, president and CEO, International Parts. "The data and software will give us new opportunities to expand our presence in the auto recycling industry."
Jeff Stotland, CEO of iSalvage added, "Our customers want to use our services in a variety of ways, including the telephone and the Internet. International Parts will be able to serve these needs at an unprecedented level. This is where the industry is headed and we are excited about this opportunity."
iSalvage.com, was established in July 1999 in New York City as an Internet-based procurement network for recycled and remanufactured automotive parts.
The acquisition builds on the strengths of International Parts' business model that includes a toll-free call center and a Web site, ezfindparts.com. Established in Jacksonville, Fla. in 1992, International Parts has built a proprietary database of available auto parts from more than 3,000 suppliers nationwide that include auto recyclers, parts rebuilders and aftermarket manufacturers. ezfindparts.com gives customers access to the database to find and compare available parts and order completely online.
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