| Tue 29 Jan 2002, 0:00 | | Prism Holdings Limited - Partners With Global Gian |
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PRISM HOLDINGS LIMITED
SECURE ELECTRONIC payments company, Prism Holdings, has signed a strategic
commercial agreement with the world's leading provider of smart card-based
solutions, NYSE-listed SchlumbergerSema. This includes the licensing by
SchlumbergerSema of various advanced m-commerce and m-payment technologies
developed by Prism.
The commercial relationship will initially focus on the Asia Pacific region
(APAC) where m-commerce adoption is currently experiencing rapid growth. In
addition to the licensing deal, the agreement includes technology transfers
and also provides for continuing inter-company research and development of
advanced m-commerce and m-payment SIM and server applications.
Wim Grobler, CEO, Prism Asia Pacific, says SchlumbergerSema's vision for the
next generation of m-commerce is remarkably similar to Prism's. "The
acceptance of our m-commerce technologies by SchlumbergerSema, the largest
SIM based solution provider in APAC, represents a major step forward for
Prism's intellectual property. It also puts Prism on track for its
globalisation strategy, by leveraging our intellectual property through a
vastly larger distribution channel with global presence" he adds. The
initial order resulting from this deal will translate into a gross profit to
Prism in excess of R40 million.
"As Mobile commerce is set to explode in this region," said Mr. Cedric
Collomb, Marketing Director of SchlumbergerSema for Asia, " we are delighted
with this partnership as it allows us to extend our offer in the mobile
commerce arena and to provide utmost solutions and services to our
customers, starting with Smart Communications".
SmartMoney Inc, a subsidiary of Smart Communications, the Philippines'
leading GSM wireless operator, is gearing up to deploy its mobile commerce
platform, which includes the award-winning SmartMoney `electronic wallet'
offering, to other cellular network operators who are also aggressively
moving into m-payment.
Don Rae, chief operations adviser at Smart Communications, Inc and Ian
Wilson, Smart Money's senior operations adviser have welcomed the agreement
between Prism and SchlumbergerSema.
According to Rae, SmartMoney, winner of the 2001 GSM Association award for
"most innovative customer service application", is the world's first and
only re-loadable electronic cash card linked to a mobile phone. SmartMoney
functions like an "electronic wallet" are already being used to pay for
everyday purchases at global MasterCard transaction points.
"Smart Communications will be the first customer for the combined
Prism/SchlumbergerSema product," Rae adds.
Wilson says the relationship between Prism and SchlumbergerSema is "a
perfect partnership from our perspective. Prism's strategic relationship
with SchlumbergerSema gives us a great platform from which to ensure the
global success of the mobile commerce platform."
Notes to Editor:
JSE-listed Prism Holdings is a world leader in the secure electronic
transaction market. With a growing presence in Europe and South-East Asia,
Prism is one of the few companies in the world offering services solutions
and products that bridge the following core technologies:
Security - sophisticated cryptographic security solutions, many developed
using own intellectual property resources;
Payment solutions in the physical and virtual (Internet and wireless)
realms; and
Smart card technologies spanning both wireless communications and electronic
payments.
For more information, visit www.prism.co.za
Smart Communications, Inc ("Smart") is the leading wireless operator in the
Philippines providing a wide range of innovative services to the 5-million
subscribers on its GSM network. It is a wholly owned subsidiary of the
Philippine Long Distance Telephone Company (PLDT), the country's largest
telecommunication and multimedia company. For more information visit
www.smart.com.ph
Smart Money, Inc. is a subsidiary of Smart that is licensing the use of the
Mobile Commerce Platform, including the Smart Money Wallet Card, to other
cellular operators
SchlumbergerSema is a leading information technology services company
providing IT consulting, systems integration, managed services, products and
IP network security solutions serving the oil and gas, telecommunications,
utility, finance, transport and public sector markets. With more than 30
000 employees in 130 countries, SchlumbergerSema is one of two business
groups of Schlumberger Limited (NYSE:SLB), a global technology services
company. Schlumberger Limited acquired Sema plc in April 2001. In 2000,
Schlumberger revenue was $9,6-billion and Sema plc revenue was $2,4-billion.
More information is available at www.slb.com
