Makes sense that after 9 months of crickets re: Metaswitch, that this relationship will be going nowhere.
The failure of VM was a repeat of WP and FI compliance offering, combined.
As shown by WP, an App requires massive marketing expenditure in order to get traction. NOR does not have the marketing $ to go it alone. So what did they do? Sought to partner with Telcos.
Lack of take-up by Spark customers, as per Google Play download and AppAnnie data, suggests a lack of marketing $ thrown at it by Spark and/or lack of interest.
As for the back-end system... great for NOR to have sold it to Spark. And no doubt the tech is robust. But the company (NOR) is not. Selling a system to Spark is equivalent to NOR previously selling a solution to JPM (US FI).
Which brings me to FI compliance offering. Due to legislation changes in US/EU, there was a need for a NOR-like offering. But as history shows there was a complete lack of interest in NOR's offering. So why would that be? Imo, major corporations are generally unwilling to entrust mission critical processes to small companies lacking certainty.
Partnering with an Oracle or Metaswitch would solve this for NOR. But why didn't Oracle partner with NOR for FI compliance? Why after 9 months has Oracle not formerly partnered with NOR for VM? Imo... lack of NOR certainty in terms of finances.
NOR failures of the past are ingredients for NOR failures of the present and future.
Pinnacle escaped the NOR lobster pot. SGH has not added/maintained their %. But hey, a new name has entered the NOR lobster pot, so it must be a sign!
Let's see if the new lobster is willing to throw more cash NOR's way after the last update.
NOR Price at posting:
2.8¢ Sentiment: Sell Disclosure: Held
