Stock Watch: Convergent Gets Boost From IBM Alliance

Convergent Communications (Nasdaq: CONV) gained 17/32 to 4 1/8 Wednesday after the broadband and Web services provider announced an e-commerce alliance with IBM (NYSE: IBM).

The Englewood, Colorado-based Convergent said the memorandum of understanding will allow it to offer e-commerce services to its clients. A definitive agreement is expected within a month.

President and chief executive officer Joseph R. Zell said the agreement is “one in a series of strategic relationships” that add to the company’s offerings. Last week, the company announced alliances with Covad Communications, Exodus Communications and Williams Communications.

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