Stock Watch: Cisco Contract Boosts Niku

Niku Corp. (Nasdaq: NIKU) rose 5 to 20 Thursday after the Redwood City, California-based Internet software company said Cisco Systems would use its products in its worldwide consulting business.

“In an exhaustive, multi-month review of the leading vendors in this category, we found that Niku could flexibly deliver the internal process automation solutions and the end-to-end service supply chain capabilities to connect Cisco to our alliance partners,” said Inder Sidhu, Cisco’s vice president and general manager of worldwide professional services.

Niku shares, which traded above 105 just last month, have now fallen below their initial public offering price of $24. The company’s stock began trading in February.

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