Shares in Phorm, the Aim-listed technology firm, have plunged after it emerged that BT has quietly pulled plans to roll out its controversial advertising system, which tracks the internet habits of customers and has been attacked as online snooping by privacy campaigners.
BT was a key player in the development of Phorm’s Webwise system, which uses information about which sites an internet user visits to target them with relevant advertising on subsequent pages. News that BT has in effect mothballed the technology sent shares in Phorm down 40% by lunchtime today.
Via Manic
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