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Ravisent Technologies Soars on Deal to Supply Microsoft's Xbox

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Shares of

Ravisent Technologies


rocketed after the company announced it had been selected by



to provide DVD playback software for the software giant's Xbox video game console.

Ravisent's shares had lately climbed $1.69, or 112.5%, to $3.19 in trading on the


, up from its 52-week low of $1.47. The shares have a 52-week high of $47.50. Microsoft also pulled higher this morning, recently gaining $2.88, or 6.62%, to $46.31.

The Malvern, Pa., company, which provides digital audio and video software, said it had reached a five-year agreement to license its CineMaster DVD engine for DVD playback on Microsoft's Xbox, which will be launched in Fall 2001.

Microsoft's much-anticipated Xbox video game console reportedly delivers three times the graphics performance of the newest generation of game consoles.