ROYAL TUNBRIDGE WELLS, UK, Feb. 2 /CNW/ - Synchronica plc ("Synchronica"
or "the Company") (AIM:SYNC; TSX VENTURE:SYN) the international
provider of push email, instant messaging and social networking
services, announces it has entered into an agreement ("the Agreement")
to acquire customer contracts, accounts, intellectual property, patents
and software, and all other associated assets from Neustar NGM Services
Ltd. and certain of its affiliates ("Neustar NGM"). Synchronica
acquires the instant messaging business, including the technology, 11
contracts with Tier-1 and Tier-2 mobile operators and two contracts
with Tier-1 device manufacturers for a cash consideration of
Acquisition of Customer Contracts of Neustar Instant Messaging Business
Synchronica has agreed to acquire certain assets and liabilities from
Neustar NGM and certain affiliates relating directly to their IM
business, in order to accelerate its business and further increase its
market share in the Instant Messaging segment. The acquisition includes
Neustar NGM's customer base, its patented technology, other assets and
a clearly defined pool of liabilities including the on-going, paid for
support of the live customer deployments.
The consideration payable in cash is US$251,000; US$1,000 will be paid
on the closing date and the balance will be paid on or about 90 days
thereafter. No further consideration is payable. Should the cash and
near cash assets of Neustar NGM be less than has been agreed or the
liabilities more than has been agreed, then Neustar will make good any
difference in cash. The Directors of Synchronica anticipate that the
acquired business will be accretive in 2011.
Short Term Financing
There is a short term funding request for this acquisition and
Synchronica has therefore agreed, in principle, to a loan of
approximately US$1.5 million, repayable at any time in the period to 31st December 2011 without penalty. The loan will carry interest at a rate
of 1 percent per month and there will be a bonus issue of approximately
450,000 new ordinary 15p shares. The Company will update the market
further when the loan is completed.
Acquired Customer Base
Neustar NGM's operator customer base includes 11 contracts with Tier-1
and Tier-2 mobile operators including Vodafone and Optimus (Portugal),
SFR (France), Globe (Philippines), TIM (Italy), Turkcell (Turkey),
Hutchinson 3 (Hong Kong), Vimpelcom and MegaFon (Russia). The acquired
customer base also includes two Tier-1 device manufacturers which are
using the Neustar MIM to provide Instant Messaging services to
Synchronica will assume all responsibilities under the existing
contracts and intends to provide full support for installations of
Neustar NGM products and services to existing operator and device
Acquired Products and Services
With the acquisition of the IM assets and liabilities of Neustar NGM's
business, including its patented technology, Synchronica gains access
to the following products and technologies offered to mobile operators
and device manufacturers:
Mobile Instant Messaging (MIM): MIM services enable operators to launch
both mobile optimized access to established Internet IM communities,
including Windows Live Messenger, Yahoo, AIM, ICQ, Gtalk and Facebook,
and to build their own IM services.
Interconnect: Intercarrier Communications Process (ICP) enables
operators to offer their customers instant messaging interconnectivity
enabling users to freely communicate across multiple IM communities,
mobile and fixed.
Mobile Social Networking: Mobile Messaging Gateway provides operator
branded services that give end users mobile-optimized access to Social
Networking communities such as Facebook, MySpace, Hi5 and Vkontakte.
Operator Communities: Instant Messaging Service Centre (IMSC) and the
Presence Server Platform enable subscribers to create customized
personal profiles, check whether friends are online and what they are
doing, chat in real time and share pictures and other media.
Rich Communication Suite (RCS): RCS is an initiative led by the Global
System Mobile Association (GSMA) with the support of a wide range of
operators and vendors. It aims to provide an enhanced communication
experience to subscribers through a suite of inter-operable and
interconnected services and applications. RCS enablers include the
Instant Messaging Service Centre (IMSC) which provides the enhanced
messaging capability and the Presence Server Platform, enabling the
Enhanced Phone Book.
Enhanced Address Book: A key part of the next evolution of
communication, the Enhanced Address Book is included not only in RCS
services but also in some of the latest smartphone handsets.
Synchronica intends to continue to support Neustar NGM's open
standards-based IM technology and plans to integrate key elements of
the software into Synchronica's Mobile Gateway product line. To
existing customers, Synchronica will propose a roadmap and transition
to Synchronica Mobile Gateway, extending the range of services from IM
to push Email, Synchronization and Social Networking.
Carsten Brinkschulte, CEO of Synchronica, comments: "We are delighted to
acquire these assets, further accelerating our business and cementing
our position as the leading provider of next generation messaging
services for mobile operators and device manufacturers. We are looking
forward to working with our new customers; Synchronica is committed to
continue support for these products and providing a vision and roadmap
including synergies with other Synchronica messaging products."
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
The foregoing information may contain forward-looking statements relating to the
future performance of Synchronica plc. Forward-looking statements,
specifically those concerning future performance or results, are
subject to certain risks and uncertainties, and actual results may
differ materially from Synchronica's plans and expectations. These
plans, expectations, risks and uncertainties are detailed herein and
from time to time in the public filings and announcements made by
Synchronica, including those made with AIM, a market of the London
Stock Exchange, with the TSX Venture Exchange or with securities
regulators. Synchronica does not assume any obligation to update or
revise its forward-looking statements, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
SOURCE Synchronica plc
For further information:
|Synchronica plc ||Carsten Brinkschulte, CEO ||+44 (0) 7977 256 406|
|www.synchronica.com ||Angus Dent, CFO ||+44 (0) 7977 256 347|
| ||Nicole Meissner, COO ||+44 (0) 7977 256 412|
|TMX | Equicom ||Craig MacPhail ||416 815 0700, ext. 290|
| || ||email@example.com|