Financial terms were not disclosed.
Portugal Telecom, through its PT Prime subsidiary, will launch an electronic marketplace based on the Commerce One MarketSite portal solution. The PT Electronic Marketplace will link buyers and sellers throughout the Portuguese-speaking world and Morocco, accelerating trade and reducing costs for trading partners.
The Portugal Telecom Group will be the first customer for the PT Electronic Marketplace, with its more than 1000 suppliers and more than PTE 100 billion in annual aggregate purchases.
The new company will develop the PT Electronic Marketplace, enabling clients to carry out fast, secure transactions over the Internet. It will offer online procurement solutions designed for the needs of large companies and on-line vertical markets or communities, including small and medium enterprise (SME) communities.
“Through Commerce One’s leading products, portals and services and by partnering with the industry leaders, Commerce One allows anyone to buy from anyone, anywhere, anytime in the world,” said Mr. Francisco Padinha, chief executive officer of PT Prime.
“We assessed carefully who could best partner with us to deliver on our goal, and as the leading e-commerce solution provider, Commerce One has the relevant expertise.”
Seeking to expand even more internationally, Commerce One (CMRC) Monday also forged a joint venture with Spain’s biggest electricity utility Endesa. The new unit will concentrate on developing e-commerce in Spain, Latin America, Europe and North Africa.
Last week, Commerce One co-launched a B2B portal with financial services giant Citigroup. The deals are crucial for Commerce One, who is jockeying for position in the B2B e-commerce sector with the powerful Ariba Inc. (ARBA) to sell their software platforms to major players in the industry.