Portal Software Surges on Licensing Pact With America Online - TheStreet

Portal Software

(PRSF)

has licensed its Infranet software platform to

AOL Time Warner

(AOL)

through what the company described as a "multimillion dollar, multiyear contract."

AOL Time Warner's

America Online

division will use Portal's business management and billing software. The Internet service provider joins companies such as

Qwest

(Q)

,

Sprint

(FON)

and

Deutsche Telekom

(DT) - Get Report

in using Portal's products.

In morning

Nasdaq

trading, Portal, which is based in Cupertino, Calif., gained $3.19, or 30.2%, to $13.81. AOL was up $1.61, or 3%, to $56.20 on the

New York Stock Exchange

.