Updated from 10:57 a.m. ET
said Monday that its software will power
, an Internet exchange for the high-tech industry, on a pilot basis.
The exchange, which was announced in May, is a joint initiative among several technology players, including
"We believe eHitex represents the premier players in the technology industry," said Chuck Donchess, chief strategy officer at Commerce One, in a statement. "We're looking forward to helping eHitex members realize unprecedented value and adding this major new e-marketplace to the Commerce One customer roster."
eHitex founding members spend $300 billion on procurement of goods and services annually. But that amount will not likely be spent over eHitex initially. The exchange expects to conduct 500 auctions per month by December of this year.
The announcement is significant for Commerce One in two ways. First, eHitex could compete with
, another exchange planned for the high-tech industry. That exchange, which was founded by
and other competing tech firms, will run on competitor
software. Ariba, IBM and
are in a three-way partnership in the B2B area.
Initially Monday there was no mention of Commerce One's close partner, German software maker
. But in an interview, Mark Hoffman, Commerce One's CEO, said SAP would be brought into the eHITEX fold. The exchange will run on
, the software Commerce One and SAP jointly developed, he said.
Hoffman also said eHITEX represented one of four customers Commerce One and SAP recently signed up but haven't
Commerce One fell $5, or 7.1%, to $65.19 Monday.