BATON ROUGE, La., Feb. 13, 2001 (PRIMEZONE) -- Internet antiques sellers GoAntiques, Inc. and Antique Networking, Inc. announced that they have merged, creating what is soon to be the largest online antiques business on the Web. The merger creates a single company representing more than 2,000 antiques dealers with more than $80 million in inventory available for online purchase by consumers, antiques dealers, interior designers and collectors.
The merger is a strategic move for both companies, according to Kathy Kamnikar, founder of Antique Networking, Inc. "GoAntiques has strengths in areas where we need to grow, and we have strengths in areas they need to pin down," said Kamnikar. "It's a natural. This is very positive for both companies and for the antiques industry as a whole. It helps move the combined companies forward a giant step toward reaching our goal of being the total Internet-based solution provider for the antiques industry."
Unusual for the dot-com industry, the companies were formed and managed by "antique geeks" who surrounded themselves with experienced business people and technology experts. Their approach has been different from most dot-com companies and more successful to-date. Ken Buhler, founder and CEO of GoAntiques, continues as CEO of the merged companies.
Antique Networking, Inc. has been in operation since 1995 and is one of the oldest and most established names in the Internet antiques business. It also operates a Website called www.buycollectibles.com and has electronic auction capabilities as well. The merger will include these features along with www.antiqnet.com, Antique Networking, Inc.'s primary Website.
GoAntiques was founded in 1999 and has risen to prominence on the Internet scene with an aggressive marketing strategy and a knowledge of antiques dealers' needs. Buhler, an 18-year veteran antiques dealer, says his company planned on mergers such as this from the very beginning. "We knew that if things worked out like we planned, then we would be talking to some of the other companies really soon," he admitted. "Our customers need a safe place on the Web to do business, and the industry needs a market leader who is able to service customers more effectively and efficiently," claimed Buhler.
The GoAntiques Network of antiques-related Websites (www.goantiques.com, www.antiqnet.com, and www.buycollectibles.com) will continue operating as in the past with few modifications. All changes are designed to increase the value of participation by antiques dealers and to provide a broader selection of merchandise for consumers, collectors, designers and antiques dealers themselves.
For photograph contact: David Day dday@thedaygroup.com (225)295-0111
-0-
CONTACT: GoAntiques, Inc.
Mac Buhler
(225)214-3050
mbuhler@goantiques.com