Durham, N.C.-based BuildNet auctioned off its assets late September as part of its bankruptcy proceedings. BuildNet, overburdened with debt after its acquisition spree, filed Chapter 11 bankruptcy Aug. 8, 2001. It posted certain assets for sale at an auction administered by North Carolina Federal Court.
MH2 Technologies, a provider of Internet-based, job-management tools for homebuilders located in Dallas, acquired a significant portion of BuildNet's assets. Among the items purchased was FAST, considered the most valuable of BuildNet's assets up for auction.