Apr, 2001 : Exodus contract means boost for Portal Software

📅 April 11, 2001 - Software maker Portal Software announced on Tuesday that Web hosting giant Exodus Communications (exodus.com) has plans to use the company's customer management and billing service, Infranet. The announcement caused a jump in Portal's trading on the Nasdaq, as the stock picked up 58 cents to $7.17 following the news. The terms of the agreement, however, were not disclosed.

Portal says the Web hosting service provider will use the Infranet service to manage its customer accounts and bill for its services.
Portal said it expects demand for Infranet to grow as companies increasingly continue to outsource services. The company said that as more business services are being offered as hosted applications, the need is arising for a real-time customer management and billing solution that can be integrated with other services.
In recent months, Portal has announced a number of other new contracts, signing up companies like Nokia Networks and Time Warner Cable, as well as others, to use the Infranet service. Nokia plans to use Infranet as part of its Charging Center wireless product, and Time Warner Cable will use Infranet to manage customer accounts and billing for its broadband cable service.
And more business means more success for Portal, which posted an $18 million net loss in the latest quarter, but in February reported a 108 percent rise in fourth-quarter revenue to $81.1 million.

Reads: 1327 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/exodus115.cfm
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