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C1 complete AppNet acquisition

Published on .

Pleasanton, Calif.--Commerce One Inc. Friday said it completed its acquisition of consulting firm AppNet Inc., adding a slew of bodies it will throw at e-marketplace opportunities. The deal closed with a value of about $2 billion. For that price, Commerce One picked up an army of consultants that can help spec out and implement b-to-b deals. The combined companies will have offices in 32 countries and more than 2,900 employees. When announced earlier this year, the deal beat down Commerce One stock as investors were surprised to see the lean and mean software company take on such head count. But the stock--along with many other b-to-b players--has bounced back in recent weeks.
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