IPO Roundup: Good, not great

CyberSource Corp. (Nasdaq: CYBS), Quespasa.com Inc. (Nasdaq: PASA) and Software.com Inc. (Nasdaq: SWCM) made modest gains in their initial public offerings Thursday.

CyberSource Corp., which develops and provides real-time e-commerce transaction services to online merchants, closed up 2 9/16, or 23 percent, to 13 9/16. Merrill Lynch is the lead underwriter for the 4 million-share offering.

At one point, the stock surged to a high of 18.

Messaging software developer Software.com Inc. raised $90 million in its IPO. The stock closed up 3 1/16, or 21 percent, to 18 1/16 in its debut. The stock soared as high as 24 7/8 in early trading.

The company provides messaging applications such as Web browser-based e-mail, desktop-based e-mail and faxmail messaging to a variety of companies including the likes of Cisco Systems Inc. (Nasdaq: CSCO) and AT&T Corp. (NYSE: T).

CyberSource, a spin-off of Beyond.com Corp. (Nasdaq: BYND), garnered $44 million in its IPO. The company develops and provides real-time e-commerce transaction services, such as global payment processing.

CyberSource hopes to benefit from the fact that many online merchants are seeking to outsource their transaction-processing requirements so they can focus on other parts of their businesses.

Quepasa.com Inc. (Nasdaq: PASA) closed up 5 1/8, or 43 percent, to 17 1/8 in its initial public offering. The 4 million-share offering is being underwritten by Cruttenden Roth.

The Internet site targeted for Latin American consumers lost $6.5 million last year.

Reuters contributed to this report.