Pleasanton, CA May 29, 2001 In an attempt to offer its customers collaborative capabilities for marketplaces, Commerce One today announced it has completed its acquisition of Exterprise, a provider of software solutions for building and managing collaborative business networks.
The acquisition was structured as a stock-for-stock exchange and will be accounted for as a purchase transaction. Commerce One exchanged approximately 7.22 million shares of its common stock for all outstanding shares of Exterprise. Based upon the stock price at deal closing, the acquisition is valued at approximately $59.6 million.
Commerce One plans to integrate Exterprise's business process management and e-marketplace application development capabilities into the MarketSite e-marketplace operating environment, enabling Commerce One, its customers and other software vendors to develop and deploy a broad range of collaborative e-marketplace-based applications. Commerce One expects to offer Exterprise process collaboration capabilities in the second half of 2001. Complete integration of the Exterprise development platform into MarketSite Operating Environment is scheduled for the first quarter of 2002. Also key to the acquisition are Exterprise's e-marketplace applications for online selling and sourcing, which are scheduled for general availability in Q3 and Q4 respectively.
Commerce One is focused on delivering e-marketplace solutions that provide rapid ROI [return on investment] for our customers, said Mark Hoffman, chairman and CEO, Commerce One. We believe Exterprise gives us the ability to offer a new class of e-marketplace applications designed to drive the next wave of business commerce and help our customers save money and generate revenue on the Web.
