Hutchison Whampoa chooses ECtel anti fraud product - TheStreet

ECtel (Nasdaq:ECTX) reports a comprehensive contract with H3G, a subsidiary of Hong Kong company Hutchison-Whampoa

The contract, according to which ECtel will provide H3G with anti fraud products for 3G cellular networks could yield ECtel tens of millions of dollars.

The contract will be directly related to the number of companies that subscribe or that are already subscribed to the company's networks, and so far includes a first order to several branches of Hutchison. ECtel reports other orders are due from other companies in the group. The contract is not limited time wise, and could include all of Hutchison's existing and future companies.

Hutchison is regarded as one of the world's biggest communication and infrastructure operators. H3G bought ECtel's FraudView solution for all its worldwide subsidiaries. The milestones it provided indicate the services for the next generation will be launched in Q4 2002.

ECtel's entry into next generation networks was expedited by its acquisition of NetEye. ECtel's FraudView NGN combines ECtel's fraud prevention abilities with NetEye technology, having been especially developed for next generation IP networks, on which it can detect fraudulent activity.

The NetEye acquisition helped ECtel put a company that could end up being its biggest competition out of business.