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ProQuent: Au Revoir, Paris

Data services platform startup ProQuent Systems Corp. remains bullish on future success despite the closure of its European office in Paris.

A recent post on the Unstrung message board notes that the Marlborough, Mass.-based vendor filed its European operation as bankrupt in November last year.

CTO Tom Hamilton admits that ProQuent has pulled the plug on its European HQ but says the closure was a result of a shift in sales strategy.

“Our channel partners were outselling our direct sales force. The return on investment just wasn’t there. The folks were notified in the summer, and the office closed in October. It was a sales office with about four people… It came down to a business decision. Although our team had done a stellar job trying to penetrate these accounts, it was pretty clear that working with established players was a better way to get the technology into the carriers."

Hamilton is keen to play down fears surrounding the bankruptcy issue. “The lawyers would have looked at the best way of shutting it down. If there isn’t enough cash in there to do all the things that need to be done to shut it down, then essentially a bankruptcy filing is done... It isn't anything we are trying to hide.”

Hamilton declines to reveal ProQuent’s channel partners, but aims to announce both a U.K. carrier customer and a partner in time for next month’s annual 3GSM shindig in Cannes. “It’s in the process so that the carrier will allow us to announce the deployment along with the partner involved.”

The startup has never been far from speculation questioning its health, but remains upbeat following the launch of its ACCESS (Authorized Content Control & Electronic Subject Screening) product in February 2004. The kit enables carriers to filter content according to the target audience (see ProQuent Polices Content and ProQuent Ain't Spent).

“We have reduced expenses and have also managed through our partnerships to have a lot of bookings coming in,” adds Hamilton. “We have got to the point where we can see, sometime this summer, profitability on the horizon.” The company has raised $48 million in VC funding (see ProQuent Grabs $14M).

— Justin Springham, Senior Editor, Europe, Unstrung

doodah 12/5/2012 | 3:30:13 AM
re: ProQuent: Au Revoir, Paris This company has more lives than a cat.

Didn't Piazza and Howard leave a long time ago, but their names are still on the website. Must be a new way to save money - stop paying your website designer. When is Hamilton going to give up the ghost and name himself CEO, since nobody else seems to want the job.

Doo
lrmobile_justin 12/5/2012 | 3:30:07 AM
re: ProQuent: Au Revoir, Paris Hamilton says the company will start a serious search for a CEO in the next few weeks.

Any takers?

Unstrung Justin
eurichardson 12/5/2012 | 3:27:33 AM
re: ProQuent: Au Revoir, Paris
There's been Unstrung reports/postings on ProQuent, Starent, Netspira, etc but haven't heard anything on Megisto recently. Any word on their current status?
mobileIP 12/5/2012 | 3:27:31 AM
re: ProQuent: Au Revoir, Paris Megisto announced StarHub and customer momentum in Indonesia at the tail-end of last year so they seem to be getting the customers and partners. They're speaking out in Cannes so I for one will be going along to get the update ;-)
lrmobile_justin 12/5/2012 | 3:27:21 AM
re: ProQuent: Au Revoir, Paris More details here:

http://www.unstrung.com/docume...

Look out for a customer announcement next week.

Unstrung Justin
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