Under the terms of a deal signed last week, Covisint will integrate a suite of collaborative design and supply chain tools developed by US software supplier MatrixOne, into its Virtual Project Workspace (VPW) collaboration platform.
According to Covisint chief executive Kevin English, the initiative is a result of customer demand for advanced collaboration capabilities through the exchange.
Pressure to reduce costs and product development lifecycles is forcing the automotive industry to collaborate on a deeper level.
"This is one of the major cornerstones of Covisint's business and will be a major driver of revenue," said English.
The VPW platform was developed to allow customers to manage collaborative projects across the Internet, and the addition of these new tools will allow members to collaborate on issues such as new-product conceptualisation, product and manufacturing design and plant-resource utilisation. Deployment will take place within 60 days.
This is not the exchange's first foray into the collaborative workspace arena. Last October, Covisint signed a $300m three-year contract to license design collaboration from US software supplier NexPrise. The new deal will see MatrixOne replacing NexPrise, with the latter being phased-out over time.