Commerce One admits it's only mulling a merger
The business-to-business software maker backs off its earlier announcement that it had finished negotiating a merger with AppNet.
The Pleasanton, Calif.-based Commerce One had announced earlier today that it had reached a definitive agreement with the Internet-commerce consulting company. But Commerce One withdrew that announcement after AppNet issued a statement confirming the talks but denying that an agreement had been reached.
Bethesda, Md.-based AppNet said significant issues remain unresolved.
As part of its clarification, Commerce One said it does not plan to give further updates on the talks.
Neither company immediately returned calls.
Like other business-to-business software developers, Commerce One is looking to provide more than just software to build exchanges. It also wants to forge partnerships and pursue mergers to bulk up its offerings.
A merger with AppNet would allow Commerce One to add services and consulting to its business-to-business offerings.
Commerce One is trying to buy AppNet with $1.38 billion in stock, according to Bloomberg News.