10th Mar 2014 11:46
LONDON (Alliance News) - Shares in Phorm Corporation Ltd rose 19% Monday after it said it had inked a memorandum of understanding with China Telecom Corporation Ltd to become its strategic parter for 'Big Data' and advertising.
Phorm operates an opt-in online advertising platform that protects users privacy whilst making content and advertising more relevant to them.
The three-year agreement covers a wide-range of proposed initiatives, Phorm said.
"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," the company said in a statement.
Phorm launched its commercial operations in China in January. It expects to launch its service with further internet service providers in China later this year. China Telecom, a state-owned telecommunications company, has operations in 31 provinces and over 100 million broadband customers, Phorm said.
Shares in Phorm were trading up 19% at 13.33 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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