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Phorm Shares Suffer - Promises BT Trials Soon

Posted: 04th Sep, 2008 By: MarkJ
Phorm, the controversial advertising system that works with your ISP to monitor what websites you visit for use in targeted advertising campaigns, has moved to reassure its investors after the groups share value plunged to £5.80 earlier this week. That's down significantly on Februarys high of £35.04:

Investegate Update:

Phorm (AIM: PHRM and PHRX), the advertising technology company, announced on 14 February 2008 that it had entered into exclusive agreements with UK internet service providers (ISPs), BT PLC, TalkTalk and Virgin Media Inc. Since that time, the Company has been working closely with BT to prepare its network for a trial. Whilst this has taken longer than originally anticipated, significant and accelerating progress has been made. The trial will commence as soon as these preparations are complete.

In addition, Phorm expects that Virgin Media and TalkTalk will commence consumer trials in due course. Following successful completion of these trials and an appropriate planning period, it is currently expected that Phorm's platform will be rolled-out across these networks.

Furthermore, Phorm has experienced a significant level of commercial interest in the Open Internet Exchange (OIX) from other major ISPs, both in the UK and internationally, as well as major agencies, publishers and ad networks.

The Register reports that both BT and TalkTalk have again confirmed their intent to proceed with the system, though neither was able to offer any specific date. BT also promised that trials would start "soon", which is something they've been saying for many months now.

Meanwhile Phorm's stocks rose to £7.12 after the update, although it still the subject of European Commission concern and a Police investigation, which could push the value back down again in the future.
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