Software vendor Commerce One Inc. is to sell its Commerce One.net marketplace to eScout LLC, the companies announced.
EScout, in Lee’s Summit, Mo., will acquire Commerce One.net’s three lines of business: Marketplace Operations, Managed Applications Services (MAS) and Content Operations to create what the companies claim will be the largest business-to-business (B2B) e-commerce marketplace, eScout and Commerce One said in a statement. Financial terms of the agreement were not disclosed.
Representatives from eScout and Commerce One could not immediately be reached for comment.
As part of the deal, which is expected to close in the first quarter of 2003, Commerce One will increase its equity ownership stake in eScout and will obtain a seat on eScout’s board of directors, the companies said. The new company will remain a private operation.
The combined B2B marketplace will offer supply-chain services to Fortune 2000 clients, including Interstate Bakeries Corp., the U.S.’ largest baking company with brands such as Wonder Bread and Twinkies, eScout and Commerce One said.
Commerce One.net’s marketplace, which currently connects 38 Fortune 2000 buying organizations with over 1,500 suppliers, processed over 896,880 postal orders and transactions for products and services valued at US$1.5 billion in the first three quarters this year, the companies said.
