Commerce One Cuts Staff as Merger Looms
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Commerce One Inc., the unprofitable Internet commerce software maker, is setting itself up to be bought by SAP, its partner, analysts said. Commerce One, in which SAP owns a 20% stake, said Monday that it will fire almost half its staff and focus on research and development to break even in the second quarter of 2002.
The cuts will leave Commerce One focused on developing technology used with SAP software, analysts said. SAP in June paid $225 million to raise its stake in the Pleasanton, Calif.-based company from 3%.
Now it could buy the rest for less than $800 million. Commerce One once was worth about $10 billion.
SAP, based in Germany, declined to comment on its plans for Commerce One.
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