Covisint pulls out of B2B exchange

Covisint, the online business-to-business exchange set up by auto industry giants DaimlerChrysler, Ford and General Motors, is...

Covisint, the online business-to-business exchange set up by auto industry giants DaimlerChrysler, Ford and General Motors, is selling its online auction service.

The organisation, which led the drive for public B2B exchanges three years ago, will sell its sourcing and services assets to supply management software firm FreeMarkets.

FreeMarkets will serve DaimlerChrysler, General Motors and Ford under long-term agreements, using its own sourcing technology and services.

Thilo Koslowski, lead automotive analyst at GartnerG2, said the premise of public exchanges was wrong.

"Firms do not want to give away their technology knowledge - it is a competitive advantage," he said. "You cannot go from competition to collaboration."

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