Stock Watch: S1 Jumps on News of Equity Stakes

S1 Corp. (Nasdaq: SONE) was up 6 3/16 to 34 1/2 Friday after the firm, which makes e-business software for financial services companies, announced it had received $244 million from five separate investors.

Zurich Financial Services Group, Allianz AG, FleetBoston Financial Corp. (NYSE: FBF), J.P. Morgan (NYSE: JPM) and State Farm Mutual Automobile Insurance Co. all took equity stakes in the Atlanta, Georgia-based S1. The company said it will use the money for “general corporate purposes.”

“As we continue to broaden and deepen our relationships with some of the world’s largest and most influential financial institutions, this vote of confidence truly validates both our business model and our vision for the future of e-finance,” said S1 Chief Executive Officer James S. Mahan III.

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