Shares in Netopia Inc. soared nearly 85 percent Monday on news that the company licensed its flagship product to Concentric Network Corp.
Concentric, which provides Internet networking solutions for businesses, will use Netopia's Virtual Office technology for its Web site builder.
Virtual Office was developed at Netopia's Lawrence software engineering office. The product allows a user to set up a Web site in as little as 10 minutes.
"Concentric's decision further solidifies our position as the leading technology provider of 'No Assembly Required' Web site services," said Alan Lefkof, Netopia president and chief executive officer.
Concentric, which provides Internet networking solutions for business, licensed Netopia's NSS 3.0, which is the platform used to deliver Virtual Office. Terms were not disclosed.
California-based Concentric also announced deals with CyberCash Inc. and INTERSHOP Communications to create its "ConcentricHost Site Builder" platform. ConcentricHost is a suite of E-commerce services designed to help small- to medium-sized businesses stake a claim on the Internet.
Connie DeWitt, director of marketing for Concentric's network applications services division, said, "After evaluating several alternatives, we concluded that Netopia's software platform was the clear choice for providing the easiest way to start doing business on the Web."
Like Timbuktu before it, Virtual Office is the product of Lawrence brains. Its first version began a few years ago as an upgrade of Timbuktu -- long Netopia's flagship -- which is a program that lets a user control one computer from another one.
Netopia helps small, growing businesses establish their Internet presence by providing products such as the "No Assembly Required" Web site services. It is based in Alameda, Calif.
Shares in the company rose $9.06 Monday, or 84.3 percent, to close at $19.81 on the Nasdaq stock market.
-- Richard Brack's phone message number is 832-7194. His e-mail address is firstname.lastname@example.org.