Safeguard Scientifics, Inc. (NYSE: SFE) rose 7 1/8 to 49 1/4 Monday after the Internet incubator said it raised $50 million each from IBM (NYSE: IBM) and Compaq Computer Corp. (NYSE: CPQ).
Safeguard, a Wayne, Pennsylvania-based Internet incubator, said the investments go along with infrastructure alliances it formed with both computer companies. Safeguard is moving into the infrastructure market, a strategy it calls “complementary” to its B2B investments and stake in Internet Capital Group, Inc.
The IBM investment will be used to acquire emerging infrastructure companies, Safeguard said.
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