FedBid gets new Navy reverse auction contract
By
Ross Wilkers
Reverse auction provider FedBid receives a new five-year contract from the Navy for continued use of the company’s acquisition marketplace platform.
Reverse auction provider FedBid has received a new five-year contract from the Navy for continued use of the company’s acquisition marketplace platform.
The contract is for one base year with four option years, FedBid said Tuesday. This award comes nearly three months after procurement software provider Compusearch acquired FedBid to create a more consolidated acquisition management offering for agencies.
Including the Navy, Vienna, Va.-based FedBid has reported five major reverse auction contract awards from agencies in the past eight months, including a spree of four contracts in April and May of last year alone. Those included the Army and departments of Agriculture, Commerce and Labor.
The Navy will continue to use FedBid’s commercial e-commerce portal, sourcing assistance and quality assurance services to acquire commodity goods and simple services.
According to FedBid, Navy buyers have awarded more than $500 million in contracts through the company’s marketplace and 78 percent of those have gone to small businesses.