This paper presents a research proposal aimed to explore coevolution of firms' B2B-IT capabilities, at the relationship and network level, and interfirm collaborations to understand how those IT-enabled relationships affect value creation and appreciation through Business Model Change. In the recent years, interfirm collaborations have become critical for competitive success as digital interconnection between products and processes within and across industries proliferated and in turn disrupted traditional industries. Today's competitive landscape forces firms to constantly persuade strategic change and business models are dynamic IT enabled mechanisms which firms execute their intentions for strategic change and interfirm collaborations. Two sets of IT capabilities mentioned to be necessary for Business model reconfigurations, yet IS researchers have not studied how those capabilities are acquired in relation to the firms strategic intentions and how preexisting capabilities affect adaptation of new strategies. Adopting a coevolutionary perspective, we aim to study this phenomenon through an explorative case study.