Box Stock Gains on IBM Global Partnership

NEW YORK (TheStreet) -- Shares of Box (BOX) were gaining 6.8% to $18.74 on heavy trading volume Wednesday after the company announced a new global partnership with IBM (IBM).

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.

The two companies will also work together to bring Box's technology into the enterprise iOS apps IBM created as part of its partnership with Apple (AAPL).

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.

BOX ChartBOX data by YCharts

More from Markets

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Video: When Planning for Retirement, Don't Underestimate Your Life Span

Video: When Planning for Retirement, Don't Underestimate Your Life Span

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Charlie Gasparino Says GE Is Reportedly Looking to Slash Its Dividend Again

Charlie Gasparino Says GE Is Reportedly Looking to Slash Its Dividend Again

GE Confirms $11.1 Billion Transportation Merger With Wabtec

GE Confirms $11.1 Billion Transportation Merger With Wabtec