Loudeye Technologies Inc. (Nasdaq: LOUD) jumped 19 percent Thursday after the multimedia software-maker announced a deal with Intel (Nasdaq: INTC).
Shares in the company, originally encoding.com, were up 3 1/16 to 18 7/8. The stock has fallen from its high of 54, reached shortly after the company's IPO in March.
The company announced it has been chosen to provide encoding to Intel Internet Media Services, and that Intel Internet Media Services will be part of Loudeye's distributed hosting network.
"This agreement allows customers to have access to the most sophisticated digital media technologies throughout the entire process. Customers use our digital media services for encoding content which is seamlessly distributed to Intel Internet Media Services for hosting and management," said founder and CEO Martin Tobias in a company release.