The company on Tuesday said that French automaker PSA Peugeot Citroen is steering its suppliers and manufacturing unit to the burgeoning online auto marketplace.
As part of the deal, Peugeot said it will take an equity stake in Covisint. The size of the investment was not disclosed.
The French company plans to use the exchange in managing its supply chain, procuring goods and collaborating with others in the auto business, through a customized Peugeot branded portal, the companies said in a joint statement. --Erich Luening, Special to ZDNet News