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BtoB

B-to-b auctioneer going once ... sold to Commerce One

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Walnut Creek, Calif.--Commerce One said Friday it has paid $4.5 million for CommerceBid.com, a Santa Clara, Calif.-based developer of business-to-business auction software. The deal allows Commerce One, which is building a network of business traders, to bring development of b-to-b auctions and reverse auctions in-house. Of late, the Internet has been flooded with b-to-b auction sites--what's expected to be $52 billion in b-to-b auctions by 2002, according to Forrester Research. Commerce One's advantage in the scramble is its ability to use ongoing communities of traders as a springboard for its auction site. Earlier this week, General Motors Corp., Detroit, became the latest powerful corporate buyer to join Commerce One's client roster.
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