Canadian Plastics

Compuware to acquire Covisint’s technology

Compuware Corporation, a software and technology service firm, has announced it will buy the products and technolog...

February 6, 2004   Canadian Plastics

Compuware Corporation, a software and technology service firm, has announced it will buy the products and technology of Covisint LLC, the four-year old data and exchange service owned by General Motors, Ford Motor Co., DaimlerChrysler, Renault and Nissan. Last month, software company FreeMarkets Inc. agreed to buy the sourcing and service assets of Covisint.
Cumpuware said it expects Covisint to add one to two cents per share to Compuware’s earnings for the next fiscal year.
"Now that Covisint is running mission-critical processes for OEMs and large Tier One Suppliers, they (Compuware) would like us to rapidly expand our capabilities," said Bob Paul, Covisint president and CEO. "Under the stewardship of Compuware we will be able to globally scale our technology offering."
Compuware and Covisint expect to close the transaction within 30 days. The majority of Covisint’s staff will be retained and relocated to Compuware’s Detroit headquarters over the next several months, according to a release.


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