Phorm denies UK exit

 

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By Barry Collins

Posted on 28 Sep 2009 at 11:47

Internet advertising company Phorm has denied reports that it's pulling out of the UK.

Phorm has been somewhat left out on a limb in this country, after effectively losing the support of two of its three ISP partners. BT said earlier this summer that it had "no immediate plans" to roll out Phorm's controversial behavioural advertising service, while TalkTalk pulled out altogether.

Newspaper reports today claim that Phorm has decided to leave the UK market, and focus instead on opportunities abroad.

However, Phorm has dismissed the reports. "Phorm remains fully committed to its operations in the UK," a company spokesman told PC Pro. "We continue to be active in the market and are confident of the opportunities domestically. Meanwhile, Phorm is also making substantial operational progress internationally."

Just last week, while announcing its interim financial results, Phorm claimed it was still in discussions with a number of British ISPs, although the company didn't divulge any names.

The company desperately needs to find an ISP willing to proceed with a full commercial rollout. The firm continues to burn through cash at an alarming rate, last week reporting operating losses of $15m (£9.2m) for the first half of this year.

Phorm insists its balance sheet remains "strong".