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.