Phorm Confirms Progress In Brazil

Online advertising firm Phorm has announced that it is making good progress in trialling its user online behaviour-based adverts.

The company recently released the first batch of targeted adverts to those who previously opted in for the trial.

Phorm, which recently moved out of the UK due to mounting criticism from government and users, is focusing on making the targeted ad business a success in Brazil.

The company is working along side Brazilian Internet Service Provider (ISP) Oi, while Telefonica is entrusted with launching the trial of its Web Discover product Navagador.

Phorm was criticised for using 'spyware' technology in order to determine what websites users visit on the web for dishing out online ads specific to their tastes.

The company had run trials in the UK with BT and TalkTalk, but both companies severed ties with Phorm after the European Commission decided to investigate the firm for violating EU privacy norms.

As Phorm announced the update on its Brazilian trials, its share price fell by 20p to end up at 87.5p.