One Acquires Veo Systems, Inc.
Leading Electronic Commerce Solutions Provider Acquires XML Technology
Leader to Rapidly Expand Open Internet Trading Communities
Calif. Jan. 19, 1999 Commerce One, Inc., the global
leader in enterprise procurement solutions, today announced that
it has acquired privately held Veo Systems, Inc., the leading solutions
provider of Extensible Markup Language (XML)-based open commerce
networks. With this acquisition, Commerce One will rapidly accelerate
the pace of development of industry-leading XML-based business-to-business
electronic commerce solutions to enable open Internet trading communities.
platform and electronic commerce vendors are rapidly embracing XML;
an industry standard developed by the World Wide Web Consortium.
The integration of Veo System's XML technology with the Commerce
Chain' Solution by Commerce One represents a major step forward
in solving the core issues surrounding the creation of online trading
partner communities by providing more robust business-to-business
interoperability. Commerce One will deliver an open XML-based solution
- Provide an
open platform for real-time exchange of business documents
such as purchase orders, price/availability checks, and invoices
providing a more cost effective way to automate the inter-business
processes between buyers and suppliers.
and dramatically reduce the costs associated with catalog content
management by providing a means to aggregate, publish and exchange
catalog content utilizing a "publish once" model. This model allows
suppliers to publish their content once to the trading community,
which once published makes it readily available to all members
of the trading community.
- Enable buyers
and suppliers to more easily integrate their existing systems
into the trading community reducing costs and time associated
with complex systems integration between disparate systems.
As a result,
adoption and participation in online trading will be expedited,
providing suppliers with a new open sales channel, and providing
buyers with online access to a large community of manufacturers,
distributors and suppliers.
"We joined forces with the industry's pioneer in XML development
because we share the same vision of building an online trading community
where buyers and suppliers can interact in real-time to streamline
and expedite commerce," said Mark Hoffman, president and CEO of
Commerce One. "XML technology is the next great leap forward in
unlocking the potential of business-to-business Internet commerce,
since it will simplify the exchange of information between trading
communities and dramatically reduce costs."
Chain Solution and XML Speeds Trading Partner Participation
By linking buying organizations and suppliers together in a shared
trading environment, Commerce One provides both business communities
with an optimal commerce environment that delivers significant benefits.
to Buying Organizations:
of Internet commerce will be in open, XML-based trading partner
networks. XML will provide the foundation for companies to integrate
into the trading community," commented Dr. Jay M. Tenenbaum, Commerce
One Chief Scientist and Board Member and former Chairman of Veo
Systems. "By combining Commerce One's applications with Veo System's
XML technology, Commerce One is uniquely positioned to deliver dynamic
open trading partner communities that significantly increase operational
efficiencies and reduce costs for both communities participating
in online commerce."
is Critical XML provides a fundamental shift in the way corporations
automate supplier and customer integration. Past integration solutions
have focused on API-based technologies, where corporate integration
must be configured for each new trading partner. A document approach
based on XML document exchange overcomes the expense and inflexibility
of EDI and custom business integration solutions, and paves the
way toward open online trading communities.
by itself is not enough. To understand each other's business documents,
trading partners must first agree on a standard naming convention
for the documents in their industry. To facilitate this process,
Veo pioneered the development of The Common Business Library (CBL).
CBL is a public collection of XML "building blocks" for creating
common business documents such as catalogs, purchase orders, and
invoices. Veo has turned over CBL to CommerceNet, an industry consortium
that is promoting interoperable commerce on the Internet. Over 25
Internet commerce leaders including HP, IBM, Microsoft, Netscape,
and Sun are actively involved in this activity, as well as the chief
architects of leading key electronic commerce standards initiatives
such as OBI, RosettaNet, XML-EDI, OTP and ICE. "Enabling business-to-business
relationships is the next electronic commerce challenge. Companies
that succeed in building these relationships will see tremendous
new opportunities. The key to doing this right is to make it easier
to enter into new relationships and to reduce the ongoing costs
of doing business," commented Lee Fife, Partner with Fastwater,
an analysis and consulting firm that helps companies define and
measure the success of their web businesses. "This is where XML,
and in particular, Veo's CBL matter as Commerce One takes advantage
of the business relationship building blocks provided by CBL."
One and Veo to Merge Operations
With this acquisition,
Commerce One will maintain and grow Veo's Mountain View, Calif.
site as a major Development Center for the Commerce Chain Solution.
The addition of more than 30 highly skilled XML developers with
Veo Systems to Commerce One's development team is expected to greatly
accelerate the pace of innovation. Additionally, Veo Systems' President
and CEO, Asim Abdullah, and Chairman and Chief Scientist, Dr. Jay
M. Tenenbaum, will join Commerce One's executive management team
and Commerce One's Board of Directors. Dr. Tenenbaum is considered
a pioneer and leading visionary of Internet commerce, and is the
founder and Chairman of CommerceNet, the premier industry association
for Internet commerce with nearly 600 corporate members worldwide.
Mr. Abdullah previously served as the Executive Director of CommerceNet.
Commerce One's XML-enabled products are expected to reach the marketplace
on Commerce One, XML, CBL and Veo Systems can be found on Commerce
One's home page at http://www.commerceone.com.
is the global leader in providing web-based, enterprise procurement
solutions that dynamically link buying and supplying organizations
into real-time trading communities. The Commerce Chain Solution
by Commerce One enables companies to significantly reduce operational
costs and increase efficiency by automating the entire indirect
goods and services supply chain. As a result, enterprise organizations
are able to realize a strategic competitive advantage as well as
a rapid return on investment. The Commerce Chain Solution includes
Commerce One BuySiteª, which automates the internal procurement
process from requisition to order, and Commerce One MarketSiteª,
which automates supplier interactions from order to payment.
is located in Walnut Creek, Calif. and can be reached by phone at
(800) 308-3838 or (925) 941-6000 or via the Internet at http://www.commerceone.com
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The Horn Group
in its history, Veo Systems made a strategic decision to build
its open commerce solutions on XML, which was then an emerging
standard. The company was a pioneer in the development of
XML-based commerce applications. As XML gained momentum in
the market, and as we realized the power that XML brings to
Web commerce, Veo has made the transition from pioneer to
Laplante, Partner, Fastwater LLP
will power drive the future of e-commerce by allowing degrees
of interoperability and flexibility we can only now dream
about. The combination of Veo Systems' expertise in XML for
e-commerce and Commerce One's knowledge of procurement systems
together with open e-commerce standards such as the Internet
Open Trading Protocols being developed by the IETF will considerably
help to make this real."
Burdett, Development Director, Mondex International