BroadVision Shares Jump After Wal-Mart Deal
by April 30, 2001 2:25 pm 99 views
Shares of BroadVision Inc. rose about 20 percent Monday morning on the Nasdaq stock exchange after the business software maker said Wal-Mart Stores Inc. will use BroadVision products to fortify its online presence.
Shares of Redwood City, Calif., BroadVision rose 83 cents to $6.34. At 1:30 p.m., Wal-Mart (NYSE: WMT) was off 85 cents to $51.98.
The agreement builds on the existing joint initiative of Samsclub.com and Asda.co.uk, Wal-Mart’s online version of the multi-purpose superstore in Britain.
“We chose to standardize on BroadVision because of the applications’ proven scalability and reliability,” said Kevin Turner, Wal-Mart’s chief information officer. “It was important for us as a company to select a vendor who has proven they can offer world-class support and reliability.”
BroadVision said its deal with Wal-Mart will include the production of a new associate portal site, expected to debut before the middle part of 2001.