Shares of business-to-business e-commerce software company Ariba (Nasdaq: ARBA) climbed 13-1/2 to 237-1/2 on Thursday after the company announced that it will buy privately held online trading platform company Tradex for about $1.86 billion in stock. Also on Thursday, Ariba and telecommunications company Telefonica SA announced a preliminary agreement in which Telefonica would use Ariba’s business-to-business e-commerce platform for a series of business-to-business corporate exchanges in Europe and Latin America.
An interesting battle is shaping up between Ariba and rival Commerce One. Right now, both companies are winning big on Wall Street. Ariba, which went public in June, is trading more than 10 times higher than its offering price of $23. Commerce One stock, which gained 6-11/16 to 419 on Thursday, has done even better. The company, which went public in July, is trading nearly 20 times higher than its offering price of $21. Both companies now have remarkable market values of more than $10 billion.