JetForm Corp. announced Wednesday its launch of new technology, which will allow consumers to send and receive e-business forms with their cellphones.
Its stock soared almost 20% higher Wednesday as investors pumped money into the company. Its 52-week high was $9, and the shares were trading in the $8.25 range at mid-day.
ReachForm is JetForm's first product catering to the wireless market, supporting standards, which facilitate the flow of digital data between mobile devices.
JetForm will begin customer trials on the product soon and plans a launch in the third or fourth quarter.
"We see, and many of the industry analysts who follow this space agree, that this is a capability that every organization will need to provide," said Eric Stevens, vice-president of research and technology. "It's a natural extension to what we do in terms of automating business processes for organizations -- it's just another device for us."
JetForm sells automated systems and electronic forms that convert piles of paper and rows of file cabinets into digital records.
