Completion of acquisition

RNS Number : 4406L

Synchronica PLC

01 August 2011

 



Synchronica plc

Synchronica Completes Acquisition of Nokia's Operator Branded Messaging Business

Synchronica plc ("Synchronica" or "the Company"), the international provider of next-generation mobile messaging solutions, announces that it has completed its acquisition of Nokia's Operator Branded Messaging Business. The acquisition provides Synchronica with a successful and complementary mobile messaging business and a strong, established foothold into the strategically important North American operator market. Synchronica also benefits from a long-term relationship with Nokia in which Synchronica will assume responsibility for the development, maintenance and support of the Nokia Messaging software which ships with millions of Nokia devices, as well as the gateway functionality for both Series 40 and Symbian devices.

Synchronica has also successfully completed a fund raising of US$ 15 million, via a UK Placing and a North American Placing to provide for the initial cash consideration for the acquisition of US$ 4 million and working capital for the Group. Both Placings were detailed in the Company's Admission Document sent to shareholders on 8 July 2011.

Commenting on the completed transaction, Carsten Brinkschulte, CEO of Synchronica, said: "With [today's] completion, we have acquired Nokia's successful and highly complementary Operator Branded Messaging business, and have at a stroke transformed Synchronica's scale, profitability and geographic scope. The Nokia messaging platform complements our flagship, carrier-grade Mobile Gateway messaging infrastructure software, and we will work relentlessly on merging both products to create a superior solution with significantly enhanced functionality."

For further information contact:

Synchronica plc	Carsten Brinkschulte, CEO	[phone]
www.synchronica.com	Angus Dent, CFO Nicole Meissner, COO	[phone] [phone]
Northland Capital Partners
(Nominated Adviser)	Shane Gallwey/Rod Venables	[phone]
(Corporate Broker)	Katie Shelton	[phone]
Walbrook PR Limited		[phone]
(media enquiries)	Paul McManus	[e-mail]
(investor enquiries)	Paul Cornelius	[e-mail]

About Synchronica

Synchronica plc is a leading developer of next-generation mobile messaging solutions based on open industry standards. The award-winning product portfolio includes the flagship product Mobile Gateway, providing push email, synchronisation, instant messaging, backup & restore and mobile connectivity to social networks. Synchronica's products are white-labelled and offered by mobile operators in emerging and developed markets to provide mass-market messaging services, increasing data revenues and reducing churn.

Synchronica's Mobile Gateway provides a unique multi-protocol gateway combining Push IMAP, SyncML, ActiveSync, Email-to-MMS and Email-to-SMS, delivering push email and synchronisation to literally any mobile phone currently in the market without requiring an additional client to be downloaded. Expanding Instant Messaging to mobile devices, Mobile Gateway establishes carrier-branded IM communities using the industry-standard XMPP and provides gateways to popular Internet IM communities connecting any IMPS enabled handset.

Headquartered in England, Synchronica also maintains development centres in Germany and the Philippines, in addition to a regional presence in Canada, the USA, Hong Kong, Spain, and Dubai. Synchronica plc is a public company which is traded on the AIM list of the London Stock Exchange (SYNC.L), and the Venture Exchange of the Toronto Stock Exchange (SYN.V). For further information, please visit www.synchronica.com

 

END

 

 

MSCRBMITMBAJBLB