FreeMarkets to buy auto industry's Covisint

Newswire

NEW YORK, Dec 31 (Reuters) - Software company FreeMarkets Inc. on Wednesday said it agreed to buy certain assets of Covisint, the struggling online auto services company formed by DaimlerChrysler AG , General Motors Corp. , and Ford Motor Co. . FreeMarkets, based in Pittsburgh, will provide technology and services to the auto industry under the deal, which is due to close in early January. Terms were not disclosed. Covisint was formed by the Big Three U.S. automakers in February 2000, at ...

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