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Synchronica clinches deal for entry-level Smartphones

By BFN News | 01:26 PM | Tuesday 14 February, 2012


Next-generation mobile messaging services provider Synchronica has won a contract with a device manufacturer targeting the Americas. Synchronica's white-labelled Mobile Gateway will be bundled on to the manufacturer's entry-level Smartphone devices. This recurring-revenue deal is initially valued at $250,000 for hosting and professional services, while Synchronica will also receive $0.36 for each device sold. The company also says the board maintains its advice to shareholders to reject any offer from Myriad Group. Myriad announced a firm intention to make an offer at the end of January and must now formally make this offer to shareholders by 28 February. The Synchronica board and its adviser, BDO Corporate Finance, believe that the Myriad offer is opportunistic and its terms undervalue the company and its prospects. The board recommends that shareholders do not accept the Myriad offer when the formal offer is finally made. At 1:26pm: (LON:SYNC) share price was +0.26p at 12.88p Story provided by StockMarketWire.com

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