Stock Watch: Network Commerce Gains on Expansion Plans

Network Commerce, Inc. (Nasdaq: NWKC) rose 3/4 to 5 3/8 Monday after the company said it received a $15 million credit line and announced plans to expand into Europe.

Imperial Bank will provide the credit line, which the company said will be used to buy equipment and software, and to make improvements.

Separately, the company said it opened an office outside London, representing its first European venture. The new division’s first agreement is a pact to license store building technology to Webstores Ltd.

“This is just a first step in our plans to expand our business internationally, first in Europe then Asia, South America and other markets around the world,” said chairman and chief executive officer Dwayne Walker. “This business will be a completely new revenue stream for us, which we believe will continue to grow throughout the rest of this year and into 2001.”

The Kirkland, Washington-based Network Commerce provides technology, services and commerce networks to Internet sites, businesses and merchants.

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