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BtoB

Covisint partners take stake in Commerce One

Published on .

Detroit--General Motors Corp. and Ford Motor Co., two key members of the Covisint e-marketplace, Tuesday inked a deal to take a stake in Covisint technology vendor Commerce One Inc. worth about $1.26 billion. After the deal, GM and Ford own about 14% of Commerce One, which they earlier picked to be a key technology provider for Covisint, along with Oracle Corp. Commerce One and Oracle each also own 2% of Covisint. Commerce One is the core procurement engine for Covisint.
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