Pacificnet Scores a Sony Pact

By Douglas A. McIntyre Published Jan 11, 2:43PM EST

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Pacificnet, Inc. (PACT) has announced that Sony’s (SNE) Hong Kong operations retained the company to provide e-commerce solutions for Sony Style. Unfortunately, financial terms are not disclosed. PACT shares are responding well with a 9% pop to $7.00 on 725,000 shares.

The platform includes the following internet applications: mass multi-user online customer log-in registration, administration, MySony membership management, billing, sales and order reports, warehouse inventory management and backend ERP interface with SAP systems, firewall and load-balancing systems, Web+ application servers, credit-card security management, and a shopping cart and payment system which enables customers to purchase products from Sony Style online, and make payment online using a credit card.

Pacificnet (PACT) is one of the Chinese online and offline operators that many companies either use or at least go to for technical assistance in China, Hong Kong, and elsewhere in S.E. Asia. With a tiny $82 million market cap, a partial cult stock status, an HQ in China, and a name like Sony you never know how much volume will end up trading. It usually trades under 400,000 shares per day.

Jon C. Ogg
January 11, 2007

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.