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Compuware takes wheel from Covisint

Software maker Compuware has signed a deal to buy the remaining nonauction assets of Covisint, a defunct online marketplace for the automotive industry.

Software maker Compuware has signed a deal to buy the remaining assets of Covisint, a defunct online marketplace for the automotive industry.

Compuware, based in the Detroit area, said on Thursday that it would purchase all of the products and technology that remained after the recent sale of Covisint's auction business. It will also take on the majority of Covisint's staff over the next several months. The terms of the deal, which is expected to be completed in March, were not immediately made available.


Flashback
News.com's related coverage
of Covisint's rise and fall
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"Compuware's financial stability, global presence and mature services and development organizations will only enhance the value Covisint is able to deliver to the automotive industry," Compuware CEO Peter Karmanos said in a conference call. "This is an outstanding opportunity to gain synergy from extended relationships and enhanced technology."

Covisint, which was formed in 2000 by automakers DaimlerChrysler, Ford, General Motors, Renault and Nissan, struggled to establish a virtual marketplace for automotive suppliers and manufacturers. In December, the Southfield, Mich.-based company announced that it was selling off its auction services business to FreeMarkets, which has since been acquired by business applications maker Ariba.

Compuware executives said they plan to combine Covisint's messaging, portal and Web services with their own company's products to create software for automotive manufacturers and parts suppliers.