Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The online auction site has appointed Rob Hagen CEO and PJ Bellomo COO. Hagen and Bellomo will lead efforts to expand business with high volume merchants while maintaining the growth rate of the core law enforcement business.
Online auction site PropertyRoom.com Inc. has appointed Rob Hagen CEO and PJ Bellomo COO. Hagen and Bellomo, working together for the third time in the past 10 years, will lead efforts to expand business with high volume merchants while maintaining growth of the core law enforcement business.
Previously, at Commerce5, Hagen as CEO and Bellomo as COO achieved a successful exit for shareholders with the December 2005 sale of Commerce5 to Digital River, PropertyRoom.com says. Before Commerce5 Hagen and Bellomo ran several large services businesses at Avnet Inc.
“As a team, Rob and PJ possess a proven track record of driving profitable growth in online commerce and the broader technology sector,” says founder and former police detective Tom Lane. “By combining their hands-on Internet commerce experience with the depth of law enforcement expertise we already possess among our founders, we now have the management team in place to ensure our successful growth in the future.”
PropertyRoom.com, No. 279 in the Internet Retailer Top 500 Guide to Retail Web Sites, works with more than 850 law enforcement agencies nationwide to auction found, seized and other personal property online in numerous categories, from consumer goods to real estate. The company’s trusted merchant program features e-retailers deemed by PropertyRoom.com to be of high quality and that auction goods in accordance with the company’s guidelines and standards.