Today's Deals: Frontline Acquires PlanetMedia

 Convergent Companies (CVGT) acquires KTWave

   *  Amount:         Undisclosed

   *  Premium:        n/a

   *  Industry:        Internet services

   *  Scorecard:      C+

SANTA CLARA, Sept. 29--Convergent Companies , a provider of online video to the mass Internet market, announced that it acquired KTWave, a developer of technology that produces next generation compression, video streaming, and 3D multimedia and digital media integration applications. The company anticipates that this acquisition will accelerate the delivery by Convergent of quality real time video to the Internet. The transaction is in the form of a stock purchase by Convergent of all of the outstanding shares of KTWave. Other terms of the transaction were not disclosed.