Stock Watch: Inktomi Soars on Wireless News

Inktomi Corp. (Nasdaq: INKT) was up 18 29/64 in morning trading to 207 29/64 after the company announced a series of agreements to offer wireless e-commerce services.

The Foster City, California-based software maker said its new effort will “provide companies with the ability to deliver revenue-generating mobile services, providing millions of wireless subscribers worldwide with highly relevant, differentiated content and commerce services.”

As part of the plan, Inktomi said it formed six alliances to expand its presence into the wireless arena. The company will team with AirFlash for mobile phone and Internet services, partner with Cap Gemini and Portal Software for wireless content and applications, Hewlett-Packard Co. for hardware, Sun Microsystems, Inc. for wireless infrastructure, Spyglass for content transformation, and Gwcom for advanced mobile commerce services.

“We are firmly planting a marker for the future of Inktomi as the global wireless infrastructure provider,” said Inktomi President and Chief Executive Officer David Peterschmidt. The mobile e-commerce industry will reach 14 billion transactions, a $200 billion market, by 2005, he said.

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