Synchronica 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.”