Internet Capital Group
, 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
for its stake in
, 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
but did not disclose the financial terms of the deal.
In addition, Internet Capital will merge two of its companies,
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