Commerce One Inc., a provider of business-to-business electronic commerce systems based in Walnut Creek, CA, has agree to acquire BTB Web auction services provider CommerceBid.com for $4.5 million in stock.
With this acquisition, Commerce One will maintain and develop CommerceBid.com’s Santa Clara, CA. site as a major development and operations center for Commerce One. CommerceBid.com’s CEO Liron Petrushka and president Ramesh Balwani will join Commerce One’s executive management team reporting to Carl Falk, vice president of the Commerce One Global Trading Web.
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