The company was founded in 1994 as DistriVision by Tom Gonzales and his son, Thomas Gonzales Jr.[6] It was renamed Commerce One in 1997 after Mark Hoffman became CEO.[5][1]
In January 1999, the company acquired Veo Systems from Asim Abdullah for $300 million.[7]
In November 1999, the company acquired CommerceBid from Ramesh Balwani for $4.5 million in cash and 785,000 shares and the company partnered with General Motors to create an online marketplace.[8]
In July 1999, on its first trading day after its initial public offering, the company's stock price rose 190%.[9]
In September 2000, the company acquired AppNet for $1.6 billion in stock.[10][1]
In 2001, co-founder Thomas Gonzales Jr. died of a rare cancer at age 35 and left his stake in the company in a trust to help the needy. His father was later accused of mismanaging trust funds.[6] The accusation was never proven.
In October 2002, the company announced that it planned to lay off 400 employees, 36% of its staff.[11]
The company filed bankruptcy on October 6, 2004 and emerged from bankruptcy two months later.[4][12]
In December 2004, a portion of the company's patent portfolio was sold to JGR Acquisitions, a subsidiary of Novell, for $15.5 million and the remainder of the company was sold to ComVest Partners for $4.1 million.[12][13]
In February 2006, the company was acquired by Perfect Commerce.[14]
In July 2017, Proactis acquired Perfect Commerce for $132.5 million.[15][16]
