In Online Auction Market Andale to Merge with Honesty.com
MOUNTAIN VIEW, Calif.
July 18, 2000

Andale, a provider of a Web-based service that automates and manages online auction services for businesses, said it acquired Honesty.com, a provider of measurement data and counters for users involved in Internet auctions. The new company will operate under the Andale name. Andale exchanged mostly stock and some cash in the transaction. The amount was not disclosed. Honesty.com will be run as a wholly owned subsidiary, will retain all of its employees, and remain in the Chicago area. Andale raised a $41 million second round earlier this year and is backed by Accel Partners, Bowman Capital Management, Mohr Davidow Ventures, Oak Hill Venture Partners, Tarrant Venture Partners, and others. Honesty.com is backed by individual investors.