Covisint and Oracle Ink Landmark B2B Agreement
13 December 2000
Covisint and Oracle Ink Landmark B2B AgreementOracle to Provide B2B Software for Covisint's Marketplace Covisint to Manage Internal Operations Using Oracle(R) E-Business Suite REDWOOD SHORES, Calif., and DETROIT, Dec. 13 (http://www.oracle.com/tellmemore/?524708) Oracle Corp. , the largest provider of software for e-business, today announced that Covisint and Oracle have finalized a strategic technology and licensing agreement. Under the terms of the agreement, Oracle will provide Covisint with the business-to-business (B2B) software necessary to support and manage the company's B2B activities. Covisint will implement the Oracle(R) E-Business Suite, Oracle Exchange Marketplace, Oracle technology platform (including the Oracle database and application server) and Oracle Internet Developer Suite, following Oracle's vision of building a complete B2B 'e-hub' infrastructure. As part of the agreement, Oracle receives an equity position in Covisint, LLC. This transaction was closed in early December and will be recognized as revenue in Oracle's fiscal third quarter, which closes on February 28, 2001. Through the licensing agreement with Oracle, Covisint will have the applications and technology necessary to provide what is expected to be the premier B2B exchange for the automotive industry and one of the leading exchanges on the Internet. With today's announcement, Oracle and Covisint are pushing the threshold of B2B commerce beyond the basic functions of auctioning to a comprehensive framework for business to business collaboration, transactions, communications and e-business intelligence. Notably, the Oracle Exchange Marketplace will provide critical functionality to Covisint's marketplace, such as security, single sign-on capabilities, registration and pricing. Covisint will leverage the embedded security features of Oracle Exchange Marketplace to ensure secure transactions and collaboration for the entire exchange. Covisint Standardizes on the Oracle E-Business Suite In addition to implementing the Oracle Exchange Marketplace, Covisint has licensed and standardized on the Oracle E-Business Suite to run all internal business operations. "Oracle's comprehensive range of products and technology for business to business commerce on the web will be a key asset to Covisint," said Rico Digirolamo, acting CEO, Covisint. "We're delighted to have Oracle as a key partner for this exciting venture which promises to raise the bar for how Internet commerce will be conducted." "Covisint is one of the leaders in shaping the future of how business will be done on the Internet," said Sandy Sanderson, executive vice president, Oracle Corp. "After their extensive evaluation of the applications and technology available, we're pleased that Covisint has chosen Oracle. We look forward to building on this license agreement with future opportunities for Oracle applications and technologies at Covisint." The more than 55 Oracle products that Covisint will be licensing to make this possible include: Oracle E-Business Suite Call Center Financials Human Resources Marketing Order Management Procurement Projects Sales Service Oracle Exchange Marketplace Oracle Application Server Oracle 9i Application Server Oracle Application Development Tools Oracle Internet Developer Suite Oracle Discoverer SQL*Plus Oracle Database and Options Oracle 8i Database -- Advanced Security -- Change Management Pack -- Diagnostic Management Pack -- Parallel Server -- Partitioning -- Spatial -- Oracle Internet Directory -- Oracle Message Broker Oracle e-Business Intelligence Oracle Express Server Oracle Warehouse Builder Oracle Data Mining About Covisint Covisint, LLC is an e-business exchange announced by DaimlerChrysler AG, Ford and General Motors, and joined by Nissan and Renault, to meet the needs of the automotive industry. Covisint will provide original equipment manufacturers (OEMs) and suppliers the ability to drive costs from their respective supply chains and bring efficiencies to their business operations. Covisint's temporary headquarters are located in Southfield, Michigan. The organization expects to establish offices in Europe and Asia. For more information about Covisint, go to its website at http://www.covisint.com. About Oracle Oracle Corporation provides the software that powers the Internet. For more information about Oracle, please call 650-506-7000. Trademarks Oracle is a registered trademark of Oracle Corporation. Other names may be trademarks of their respective owners.