Takumi Interactive, Inc., CMGI, Inc. and
uBid, Inc. on Thursdy announced that the business of uBid -- a business-to-consumer auction and fixed price e-commerce
marketplace and a majority-owned subsidiary of CMGI -- has been purchased by Takumi Interactive, Inc. Takumi is a majority-owned company of Minnesota-based Petters Group, LLC. Under the terms of the
agreement, Takumi purchased substantially all of the assets and assumed certain of the liabilities of uBid. Terms were not disclosed. Two current uBid executives - Robert H. Tomlinson, Jr. and Timothy
E. Takesue - have assumed executive leadership roles within Takumi Interactive. Tomlinson, previously uBid's chief financial officer, has assumed the role of President of Takumi Interactive. Takesue,
an original member of uBid's founding management team and most recently its senior vice president of merchandising, has assumed the role of Executive Vice President, Merchandising.
