Peugeot parks in Covisint's lot

Summary:The Covisint convoy has gained another vehicle. The company on Tuesday said that French automaker PSA Peugeot Citroen is steering its suppliers and manufacturing unit to the burgeoning online auto marketplace.

The Covisint convoy has gained another vehicle.

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

Topics: Software

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.