By Lisa J Ulmer, CBS MarketWatch
Last Update: 2:16 PM ET Apr 27, 1999 Internet Daily
NORWOOD, Mass. (CBS.MW) -- Shares of Elcom International Inc. shot up as much as 33 percent Tuesday after the company said Digital River Inc. will become a "distribution fulfillment partner" for its Internet storefront, elcom.com, as part of a strategic alliance.
ELCO
NASD
Last Chg.
7 5/8 +1 13/16
% Chg. Vol.
+31.18% 6,643,000
Day Lo. Day Hi.
5 29/32 7 31/32
Open Prev.
5 29/32 5 13/16
As of
Apr 27/99 2:40 pm ET
Last Trade
Apr 27/99 2:25 pm ET
15 MIN. DELAY
Elcom, a company that uses its e-commerce tools to sell personal computer products and Internet applications, said Digital River will supply over 100,000 software titles to elcom.com's customers through its Internet storefront at www.elcom.com.
The Massachusetts-based company (ELCO: news, msgs) saw shares scream up 1 5/16, or 33 percent, to 7 3/4 on volume of 5.51 million shares in afternoon trading.
Two weeks ago, the company watched its stock scream skyward after it said media giant CBS Corp. will use its procurement software, which allows companies to price and order items online. See related story.
Elcom expects the electronic link to Digital River become "live" during late May or early June. The software products will be available for electronic downloading through elcom.com's Internet storefront.
"This is a unique direct electronic link and we believe it will add value to elcom.com's customers by having direct and secure access into the electronic downloading of software, as well as through elcom.com's other delivery options," said Digital River's chief executive Joel Ronning in a statement.
Elcom's chief executive Robert J. Crowell said in the same statement that he would like elcom.com "to be viewed as a 'one-stop-shop' for businesses by the end of 1999."
Minneapolis-based Digital River, one of the largest online sources of software and an outsource provider of Web-based commerce solutions, also saw its shares rise, up 1 5/16 to 40 1/16.
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