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Internet Capital Group Sheds Two Businesses, Merges Two Others

Author:

Internet Capital Group

(ICGE)

, a business-to-business e-commerce company, said Tuesday it will sell two units and merge two others in a bid to streamline its network.

The Wayne, Pa.-based company said it received about 1.3 million shares of

Broadbase Software

(BBSW)

for its stake in

Servicesoft

, which was valued at about $10.2 million at the close of the deal. Internet Capital said it had originally paid $3.8 million the stake. The combined company will offer a suite of software applications for managing customer relationships.

Internet Capital also said it will sell its

eChemicals

TheStreet Recommends

unit to

Aspen Technologies

(AZPN) - Get Aspen Technology, Inc. Report

but did not disclose the financial terms of the deal.

In addition, Internet Capital will merge two of its companies,

FreeBorders

and

Applied Intranet Technologies

, to create a firm that offers supply-chain technology for the apparel industry. ICG's stake in FreeBorders, the surviving firm, is approximately 38%.

Shares of Internet Capital were lately up 34 cents, or 5.88%, to $6.19 in trading, while Broadbase slipped 6 cents, or 2.51%, to $6.06. Aspen was down $1.00, or 2.44%, to $40.13, on the

Nasdaq

.