Stock Watch: CyberSource Goes ‘Vertical’ After Agreement

CyberSource Corp. (Nasdaq: CYBS) rose 1/8 to 13 1/4 Wednesday after trading as high as 15 1/4 on news that the company will team with VerticalNet, Inc. (Nasdaq: VERT) to offer e-commerce services across VerticalNet’s 56 B2B trading communities.

The companies said CyberSource will provide such transaction services as credit card clearance for VerticalNet, and VerticalNet will offer CyberSource’s payment, tax and risk-management services to businesses in its industry-specific trading communities.

“CyberSource simplifies the process for both buyers and sellers within our trading communities to move from static purchase orders to real-time, Internet-based payment processing,” said Paul Calkin, senior director of e-commerce business solutions for VerticalNet.

VerticalNet fell 4 5/8 to 39 7/16.

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