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ProQuent Strikes Back

Light Reading
LR Mobile News Analysis
Light Reading
9/26/2003

Wireless services platform startup ProQuent Systems Corp. has hit back at ongoing rumors suggesting the company is in danger of collapse, claiming it has struck its first commercial contract wins with two European customers.

In a phone interview with Unstrung this afternoon, CEO Tom Hamilton denies any notion of trouble at the company, despite the reappearance of mischievous message postings claiming otherwise (read the post here).

“We haven’t announced it yet, but we have shipped two systems to European customers and we have purchase orders for them,” he reveals. “These are paying customers, not trials. It’s real revenue. I can’t name the operators at this stage but we will make an announcement as soon as partners and customers allow us."

ProQuent has developed what it calls an “IP Mobile Services Switching Point,” which sits off to the side of the GPRS Gateway Support Node or the Packet Data Serving Node (PDSN) in wireless networks. The switching point aims to enable operators to create, rate, and bill for fancy new data services without needing to upgrade their existing transport infrastructures (see ProQuent's Name Game).

Speculation over the company’s health has been rife all year, with a recent lack of company announcements adding fuel to the fire that all is not well (see ProQuent: Alive and Growing). Hamilton insists this silent approach has served a purpose, stating that the company is “ramping up” for a full-scale marketing blitz.

“We were trying to target the end of summer, but we pulled back because we want to line up our marketing program. Our strategy now is to wind up the announcements in order to build excitement going into the GSM World Congress and the CTIA shows, in February and March... You are seeing the calm before the storm.”

A COO is also on board, having joined the company last May. “We haven’t officially announced that either, but will release details in the very near term.”

In response to allegations that the company is in dire financial straits -- following its decision not to officially announce a round of funding in February -- Hamilton says that the vendor is “in the process of looking for a small extension” to this sum before combining it into “one big announcement.”

“The grant total will be significant, and we will announce it before the end of the year,” he promises. “Based on our current plans, that would be our last.”

— Justin Springham, Senior Editor, Europe, Unstrung

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bkuch
bkuch
12/4/2012 | 11:23:06 PM
re: ProQuent Strikes Back
Let's check back in february.
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