From DLJ today. Target price remains $200.
Today, PHCM announced that Global Telecom, a leading cellular carriers in
Brazil, has licensed its UP.Link Server Suite. Global Telecom launched its
WAP services on June 18, and is the first carrier in Brazil to do so. Global
Telecom serves the Brazilian states of Parana and Santa Catarina, which have
a total population of 14MM. The Latin American market is a next key
battleground for PHCM, as many carriers have yet to select their WAP
vendors. PHCM now has secured 4 key Latin American customers, including
Telcel, the largest carrier in Latin America and Mexico, Telesp, the largest
carrier in South America and Iusacell, the second largest carrier in Mexico.
This announcement also underscores how PHCM has successfully leveraged
existing relationships with its current base of customers as DDI is one of the
investors in Global Telecom and is one of PHCM's largest customers. PHCM
also announced the rollout of WAP-based services based on PHCM's UP.Link
Server Suite through PTK Centertel, the largest wireless operator in Poland
with over 1 million users. This contract was won in conjunction with Unysis'
which recently collaborated with PHCM. To date, PHCM has well over 60
customers, which in aggregate serve 200 million-plus wireless subscribers.
PHCM has dominated the CDMA sector, having secured virtually all of the
announced contracts for WAP infrastructure. In addition, PHCM's developer
program has now reached over 100,000 developers, up from 6,500 last year,
further increasing the number of applications that will become available to the
wireless web. |
