Commerce One Jumps as SAP Raises Stake
(CMRC) Commerce One was up 21.6% in preopen Island trading after Germany's SAP (SAP) - Get Report, Europe's largest software maker, agreed to invest an additional $225 million in the business-to-business company. SAP, which is already allied with Commerce One, will own up to 20% of the company, with certain limits on its ability to acquire more of the company. SAP reportedly fell in European trading as a result of the deal.
Commerce One, meanwhile, warned that second-quarter revenue would be $100 million to $120 million, below the Street's estimate of $162 million.
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