ComVest Investment Partners and DCC Ventures Complete Purchase of Commerce One Operating Assets

ComVest Investment Partners and DCC Ventures Complete Purchase of Commerce One Operating Assets

Purchase Demonstrates Strong Support for Commerce One's Supplier Relationship Management Division and Core Products

Mark Pecoraro Appointed President and Chief Executive Officer of New Commerce One

SANTA CLARA, Calif., Dec. 13 /PRNewswire/ -- ComVest Investment Partners and DCC Ventures announced today that they have purchased the operating assets and core product lines previously owned by Commerce One and its affiliated companies. The new, privately-held company acquired the rights to and will continue to operate under the Commerce One name.

The purchase includes the key Supplier Relationship Management business unit ("SRM") as well as all technology and other assets (except for certain patents and other specifically excluded non-operating assets) previously owned by old Commerce One. The purchase was completed pursuant to an agreement previously announced in October and approved by the bankruptcy court on December 6, 2004.

Mark Pecoraro, previously the Senior Vice President and General Manager of SRM operations, was appointed Chief Executive Officer and President of the new Commerce One. Pecoraro joined the Company in 2001 and brings more than 17 years of leadership experience in enterprise applications, infrastructure applications and global business operations. The entire SRM Division Management team will be joining Pecoraro at the new Commerce One. "We are extremely pleased about the outcome of this sale and energized by the prospects for both our customers and employees," said Pecoraro. "ComVest and DCC believe in the quality of our people and technology and the strength of our customer relationships. Together we look forward to a renewed focus and a very bright future as a privately-held company backed by a substantial investor group."

The purchase highlights the continued support for the core set of Commerce One's SRM offerings for its customers and the marketplace. Commerce One pioneered buying and selling on the internet with its SRM solutions that automate, integrate and optimize the entire source-to-pay process. Comprised of Commerce One Buy(TM) (including Procurement and MarketSite) and Commerce One Source(TM) (including Auctions), the Commerce One SRM suite is designed to lower total supply costs and increase purchasing agility by delivering visibility and control across the entire source-to-pay process.

Commerce One is committed to the future development of the SRM product suite. There will be new releases of the Buy(TM) Procurement and Source(TM) applications in December 2004. As the new Commerce One prepares for 2005 and beyond, the company is planning its Product Roadmap with the goal of aligning its activities and investment with current customer requirements as well as new market opportunities.

In addition to the SRM solutions, ComVest and DCC have also retained the rights to the XML Common Business Library (XCBL) property and will continue to provide support for this standards-based set of business documents. For more information, or for access to the complete set of XCBL documents, visit http://www.xcbl.org/ .

Commerce One's new headquarters will be in San Ramon, CA.

About the NEW Commerce One


Commerce One pioneered internet commerce by bringing buyers and suppliers together over the internet. Now the New Commerce One is prepared to take their initial roots and build on them to provide greater value for their customers and partners by delivering advanced products that help global businesses collaborate on a greater number of products and services. The New Commerce One will build on this strong foundation and will continue to focus on providing customers world-class software that enables organizations to reduce costs and drive productivity by automating business processes between buyers and suppliers. For more information, go to http://www.commerceone.com/ .

About ComVest Investment Partners

ComVest Investment Partners is a premier investment management organization focused on investing and managing growth businesses in the information technology, healthcare, natural resources, and telecommunication industries. Since its founding in 1988, ComVest and its affiliates have raised and invested over $1.4 billion in capital. ComVest currently manages three investment portfolios totaling over $850 million in assets and has offices New York City, New York, and West Palm Beach, Florida. For additional information on ComVest please visit http://www.comvest.com/ .

About DCC Ventures LLC

DCC Ventures LLC is a privately-held investment company located in Minneapolis, MN.

Commerce One and logo, Commerce One Source, and Commerce One Buy are trademarks and/or registered trademarks of Commerce One, Inc. All other company, product and brand names are trademarks of their respective owners.


Source: ComVest Investment Partners

CONTACT: Carol McCarty of Commerce One, +1-847-869-1984,
carol.mccarty@commerceone.com , info@commerceone.com

Web site: http://www.xcbl.org/
http://www.commerceone.com/
http://www.comvest.com/


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