Here is the information on the American Express Deal....
from Reuters
PALO ALTO, CALIF., DEC 27 (Reuters) - The shares of infrastructure services company Infospace Inc. rose over 37 percent Wednesday after an analyst broke news of its deal with financial services giant American Express Co.
Infospace, which provides content and merchant services for Web sites and wireless carriers, closed $2-15/32 higher at $9-3/32, still significantly off the $138-1/2 high it hit in March.
"There is a deal, but beyond that I can't provide additional details," said Mark Peterson, Infospace's vice president of public relations.
In a research note Tuesday, Wedbush Morgan Securities Analyst Scott Sutherland said he was researching Infospace's IQShopper software and discovered it powers American Express' ShopAmex portal, a relationship the companies had not announced.
"We believe the launch of the ShopAmex portal is a positive event for Infospace as it provides the company with a solid, multifaceted revenue opportunity and a high profile customer to showcase its IQShopper service," said Sutherland, who reiterated his "strong buy" rating on the stock. |
