Recognition Systems, the holding company for Protagona Worldwide,
officially changed its name to Protagona plc. This signals the completion of a rebranding strategy that began last year. As of August 2, Protagona is one of the most readily recognized brand names in high performance marketing.
Protagona secured an additional $18 million (12 million pounds)
through the public London equity markets. While they had sufficient cash
prior to this fundraising, the well-publicized difficulties of other
technology firms were raising concerns even about healthy companies like
Protagona. This new funding puts the concern to rest. Protagona intends to
apply these funds to fulfilling our vision of high performance marketing.
Mark Simmons Senior Analyst for Independant Research company Open World Integrations states that "although Protagona plan to deliver revenue growth, it will not be at the same rate as anticipated at the beginning of their financial year. To reflect this they are reducing the expense base by approximately 30%". Simmons adds "Staffing cuts are inevitable, yet reductions should not affect the ability to deliver, implement and support the solutions to clients and partners". Finally, Simmons claims that "Protagona seem to have a strong business head and are moving in the right directions. It will be interesting to see what their success rate is over the next 12 months, I certainly have reservations in what they are trying to achieve".
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