Phorm Corporation Limited Memorandum of Understanding with China Telecom (8775B)
March 10 2014 - 3:01AM
UK Regulatory
TIDMPHRM
RNS Number : 8775B
Phorm Corporation Limited
10 March 2014
10 March 2014
Phorm Corporation Limited
("Phorm" or the "Company")
Memorandum of Understanding signed with China Telecom
Phorm (AIM: PHRM), a leading internet personalisation technology
company, is pleased to announce that it has signed a Memorandum of
Understanding ("MoU") with China Telecom Corporation Limited
("China Telecom") and certain of its associated group entities to
become its preferred strategic partner in the field of 'Big Data'
technology and advertising operations.
Highlights:
-- Memorandum of Understanding is valid for three years
-- Establishes Phorm as China Telecom's strategic partner for 'Big Data' and advertising
-- Agreement covers a wide-range of proposed initiatives
-- Reinforces Phorm's continued progress in China
Phorm has signed a three year MoU with China Telecom, the
world's largest wireline telecommunications, code division multiple
access (CDMA) mobile network and broadband Internet services
provider.
This agreement further reinforces the progress that the Company
has made since the launch of its commercial operations with three
Internet Service Providers ("ISPs") in the People's Republic of
China as announced on 27 January 2014. Phorm is continuing to build
its commercial operations and expects to launch with further ISPs
in China later this year. The China Telecom group has operations in
31 Chinese provinces and over 100 million broadband customers.
Phorm is delighted to have been selected to become China
Telecom's preferred strategic partner, not only for advertising,
but also for its 'Big Data' initiatives and looks forward to
continuing to work closely with China Telecom on a range of
innovative products and services.
-Ends-
For further information please contact:
Phorm Corporation Limited
Andy Croxson (analysts and investors) +44 (0) 203 397 6001
UK Investors
Mirabaud Securities LLP +44 20 7321 2508 (Broker)
Jason Woollard
Peter Krens
Strand Hanson Limited +44 20 7409 3494 (Nominated Adviser)
James Harris
Matthew Chandler
James Dance
US Investors
Lippert/Heilshorn and Associates +1 212 838 3777 (Investor
Relations)
John Heilshorn
About Phorm
Phorm is a global personalisation 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
personalised content for opted-in users.
Phorm's advertising platform revolutionises 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, Advertising Networks and Advertisers.
Phorm, under a predecessor holding company, was admitted to the
AIM market of the London Stock Exchange in 2004.
For more information, please visit: www.phorm.com
About China Telecom
China Telecom Corporation Limited is an integrated information
full services operator and the world's largest wireline
telecommunications, CDMA mobile network and broadband Internet
services provider, providing basic telecommunications services such
as wireline telecommunications services and mobile
telecommunications services, and value-added telecommunications
services such as internet access services and information services
in the PRC.
As at January 2014, the company had wireline access lines in
service of approximately 155 million, wireline broadband
subscribers of approximately 100 million and mobile subscribers of
approximately 185 million.
The company's H shares and American Depositary Shares are listed
on The Stock Exchange of Hong Kong Limited and the New York Stock
Exchange, respectively.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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