DealsDirect has acquired online brand, which specialises in selling of surplus inventory for major consumer electronic, tool and appliance brands.

Paul Greenberg, DealsDirect executive chairman said the acquisition comes off the back of a busy time for the business, with the acquisition of Melbourne based, Shoppers Advantage, completed in late 2011 and the launch of in January 2012.

“This is an especially exciting deal for me,” Greenberg said. “Extrastock and its founder, Simon Arnold, were vigorous competitors of ours in our earlier days in the online space.”

Extrastock and Auctionbrokers (an early iteration of DealsDirect) were eBay Australia’s first trading assistants, and in early 2002 the two were amongst the largest eBay sellers in the world by dollar value.

Whilst the purchase price was not disclosed, Greenberg was quick to point out that this deal made sense for both parties.

“Simon wanted to take Extrastock to the next level, and believes this is best achieved through a strong partnership with DealsDirect, Australia’s foremost diversified ecommerce group. Similarly, we recognised the brand equity that Extrastock has built over the years, and it’s very strong alliances with key brands in Australia,” he said.

Simon Arnold will join the DealsDirect Group with responsibility for building the Extrastock business further, bringing more tier one brands on board, and expanding the group’s eBay and marketplace presence.