24 Jan 2013 07:00
24 January 2013
Phorm Corporation Limited ("Phorm" or the "Company")
Chinese and Turkish Operations Update
- Signs two new ISP agreements -
- Enters trade financing agreement to facilitate Chinese operations -
Phorm (AIM: PHRM), a leading internet personalization technology company, announces today that it has signed agreements to deploy with leading ISPs in two additional provinces in China. Following the agreement previously announced on 6 November 2012, these two additional deployments cover some of the largest urban centers in the country and include more than 10 million broadband lines. The expected timetable for live operations in China is the first half of 2013.
Kent Ertugrul, CEO, stated, "After our successful launch in Turkey, developments in the Chinese market hold the greatest potential for near term, large scale revenues.
"We expect these Chinese agreements to be replicated in a number of other provinces in the near future and will update the market in due course," he said.
In addition, the Company has reached agreement with a strategic vendor to fund the hardware requirement for these deployments. Installation of the necessary hardware has already begun.
In Turkey the Company's improved invitation process, referred to in the operational update on 17 December 2012, is progressing well with the first invitations using the new system due for release very shortly.
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Contact
Phorm Corporation Limited Mark Williams (analysts & investors) +44 20 7297 2326Lauren Hendry Parsons (media) +65 9656 1592
Liberum Capital +44 20 3100 2222 (Nominated Advisor and Joint Broker)Chris Bowman Richard Bootle
Mirabaud Securities LLP +44 20 7321 2508 (Joint Broker) Jason Woollard Peter Krens
Hudson Sandler +44 20 7796 4133Charlie Jack Charlie Barker
About Phorm
Phorm is a global personalization technology company that makes content and advertising more relevant to the consumer. Phorm's innovative platform preserves user privacy and delivers a more interesting online experience.
Phorm's industry leading technology enables its ISP partners to offer a new type of online advertising platform and a free consumer internet content feature, ensuring more relevant advertisements and personalized content for opted-in users.
Phorm's advertising platform revolutionizes current standards of online privacy, fully protecting the identity of consumers. Unlike virtually all other targeted advertising propositions, Phorm's solution is completely opt-in. Only those users consenting to the service are profiled and only ever on an anonymous basis.
Phorm's partners include leading Internet Service Providers (ISPs), Publishers, Ad Networks and Advertisers.
Phorm, under a predecessor holding company, was admitted to the AIM market of the London Stock Exchange in 2004 and has over 140 employees and contractors.
For more information, please visit: www.phorm.com