After a seven year partnership with ECI, we are excited to announce the ATG IPO debut on the London Stock Exchange this morning with a market capitalization of £600m.
ATG is a global technology company powering today’s secondary goods digital marketplaces. ATG’s scalable marketplace technology for curated auctions seamlessly connects bidders to trusted auctioneers globally.
ECI first invested in ATG in 2014. Last year sold a majority position to TA Associates, whilst reinvesting in the enlarged group as part of a transaction that saw the acquisition of Proxibid in North America. Now, ECI remains a minority shareholder in ATG following its IPO.
“We are excited about the prospect of listing ATG, a milestone enabling us to continue investing, innovating and leading the evolution of the auction industry as a trusted partner to auctioneers and bidders. The opportunities for ATG in the years ahead are considerable. The industry’s structural shift from offline to online is still in its early stages. We also play a key role in the growing circular economy, facilitating the buying and selling of millions of second-hand items and promoting a less wasteful world.
Now is the right time for us to go public. We have multiple levers for growth, centered on achieving maximum asset sale values for auctioneers and delivering the best online curated auction experience for bidders. We look forward to welcoming our new investors and beginning the next stage of our journey.”John-Paul Savant CEO of ATG