Commerce One announces agreement
The Global Trading Web expands to the Middle East as Commerce One launches Commerce One Middle East Distributor Operations with a group of major investors
London. February 22, 2000 - At the eLink 2000 conference here today, Commerce One Inc. (NASDAQ: CMRC), the leading provider of global business-to-business e-commerce solutions, announced a strategic distributor partnership with a group of leading Middle Eastern investors, to form Commerce One Middle East Distributor Operations. The agreement will see Commerce One Middle East operate the first business-to-business e-commerce portal in the Middle East. The portal will provide fourteen countries in the region with the most effective electronic procurement solution available today.
In a multi-million dollar agreement with Commerce One and prominent investors led by The International Investor, a leading investment bank in the Middle East acting as financial partner and advisor to the investors, Commerce One Middle East will establish Commerce portal operations in this region and be a distributor of the Commerce One Buysite electronic procurement applications.
Commerce One Middle East will cover a number of countries in the Middle East under the distribution agreement including United Arab Emirates, Qatar, Oman, Bahrain, Kuwait, Saudi Arabia, Egypt, Jordan, Lebanon, Yemen, Algeria, Morocco, Tunisia and Turkey.
Terry Brown, General Manager of Commerce One Middle East, commented, "Commerce One are leaders in their filed and we are delighted to be working with them to launch Commerce One Middle East. This is a very important agreement for this region as it will see the first portal of its kind launched in this area. Once the portal is up and running we look forward to expanding to further countries in the Middle East.”
Knowledge View, provider of award winning solutions for Arabic support, content aggregation and trading for the Middle Eastern marketplace, will also be a stakeholder in Commerce One Middle East. Dr. Ali Al Assam, CEO of Knowledge View said, "Knowledge View's expertise will allow rapid localization of the Commerce One solution for the Middle East and provide a wealth of local content.”