NEW YORK (TheStreet) -- Shares of Box (BOX) - Get Report were gaining 6.8% to $18.74 on heavy trading volume Wednesday after the company announced a new global partnership with IBM (IBM) - Get Report.
The two companies announced they will integrate their existing cloud products and services and create new solutions for the enterprise under the new agreement.
As part of the new agreement Box services will be integrated into IBM's content management and enterprise social networking software and the cloud-based Watson Analytics platform. IBM's security technologies will also be used to expand Box's security features.
About 1.1 million shares of Box were traded by 10:44 a.m. Wednesday, above the company's average trading volume of about 679,000 shares a day.