Netscape to License Software to Citibank

Netscape Communications Corp. agreed to license its electronic-commerce software to Citibank, marking a victory for Netscape as it focuses on its corporate-software business. Netscape said Citibank, one of the largest consumer banks, has a permanent license to use its CommerceXpert line of software that lets the financial institution conduct business over the Internet. Financial terms of the agreement were not disclosed. Citibank, owned by New York-based Citicorp, already offers some online banking services that will be expanded using Netscape’s software. Mountain View-based Netscape shares rose 63 cents to close at $27.88 on Nasdaq; Citicorp shares rose $1.50 to $155.50 on the New York Stock Exchange.