Shares of Xpedior Inc. (Nasdaq: XPDR) moved up Tuesday after the company inked a strategic alliance agreement with Hewlett-Packard (NYSE: HWP) that designates both companies as providers for BroadVision (Nasdaq: BVSN) products.
Shares in Xpedior, an e-business enabler, moved up 0.625 to 1.375. The company's stock had traded at a 52-week high of 29.25 before falling precipitously to a low of 0.25.
Under the deal, HP plans to invest capital and technical resources into its new relationship with Xpedior to develop solutions for BroadVision's technology in the retail sector. The agreement covers development, consulting resources and marketing efforts.
According to Xpedior's CEO Vince Verna, the deal is expected to create new revenue for Xpedior as new business opportunities generated with HP's sales force are realized.
Back in November, Xpedior expanded its software alliance with IBM (NYSE: IBM) to cover the development of templates for certain software platforms of Big Blue.