Synchronica plc announced acquisition of operating subsidiary of AxisMobile plc
The mobile email and synchronization expert Synchronica plc has entered a conditional acquisition agreement to acquire operating subsidiary of competitor, AxisMobile plc.
85,102,041 new ordinary shares of 1p each in the capital of Synchronica will be issued to persuade the acquisition.
Synchronica also announce that it has provisionally raised GBP 5.1m in two institutional placing by FinnCap for the purpose of financing of the combined business. Issue of 169,466,399 new ordinary shares of 1p each at a price of 3p per share is concerned in the Placing.
Creation of a well capitalized business and a market director in mobile email and synchronization solutions are the motive behind the Placing and Acquisition.
Synchronica plc consider that this acquisition and placing would definitely increase there commercial expansion and product development line up. It would also enhance its capability for providing majority of handsets with email. In promising markets such as China, the Middle East, Latin America and Eastern Europe Synchronica would become able to strengthen its customer portfolio as well as strong product design
