E-commerce software provider Commerce One Inc has agreed to buy auction software developer CommerceBid.com Inc, a privately held Santa Clara firm, for $199m in a cash and stock deal. Commerce One will issue 785,000 shares and pay $4.5m in cash for the company, which makes web-based auction and reverse auction software called ChannelBid. This technology will be integrated into Commerce One’s MarketSite procurement extranet portal. MarketSite operates on what the company calls its Global Trading Web, which encompasses sites in the UK, US, Japan and Australia. The CommerceBid facility will be maintained by its new owners as a major development site for the company.
