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Chordiant gains on $24 million deal

Chordiant Software, Inc. (Nasdaq: CHRD) rose 33 percent Wednesday after it announced that Lloyds TSB Group is investing $24 million in its electronic customer relationship management technology.

Though the company sizzled in its intitial public offering, shares have fizzled lately. Shares were up 2 51/64 to 12 5/64, having recovered from a low of 5 1/4.

The deal is part of the bank's eCommerce and CRM strategy, and is Chordiant's largest customer win to date.

Chordiant will unify and manage customer communications and business processes across all of the bank's channels, including lloydstsb.com, WAP and digital TV banking services.

Chordiant CEO Sam Spadafora said it expects to see more financial organizations as customers as they continue to expand into new digital channels.