Prodigy Brands Mexican ISP
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The name change marks a significant milestone for the two companies, as well as an important extension of the Prodigy Internet access brand name into one of the fastest growing international markets in the world.
"This name affirms the power of the Prodigy brand and the strength of our technical innovation," said Samer Salameh, Prodigy chairman and chief executive officer.
"With Prodigy Internet de Telmex, Prodigy has established a beachhead to expand south of the border; plus, it fits perfectly within our business strategy to be the number one provider to the U.S. Latino market."
"Telmex can now draw upon the power of the Prodigy brand name," said Telmex President and CEO Ing. Jaime Chico Pardo. "Unifying our respective marketing and technology strengths, Prodigy Internet de Telmex is able to create a complete, one-stop shopping Internet experience for Latinos in both Mexico and the U.S."
Currently, Prodigy assists Telmex in the negotiation of agreements pertaining to web hosting, customer care, billing and marketing services.
Under the terms of the revised agreement, Prodigy will receive a monthly management fee equal to 15% of the net subscriber revenue on the first 200,000 subscribers and 10% of the net subscriber revenue on additional subscribers in exchange for its services.
Telmex reportedly serviced more than 150,000 billable subscribers as of March 31, 1999. Since Prodigy manages these subscribers, the company expects to have a positive impact on Prodigy's 1999 revenue.