Mobile email provider Synchronica has acquired the consumer mobile email specialist AxisMobile for £2.6m of shares.
The AIM-listed company has also raised additional funds of £5.3m, from new and existing institutional investors, which brings its total funding raising to £9.6m this year.
The AxisMobile acquisition is a part of a strategy which aims to make Synchronica the leading player in mass market mobile email and synchronization middleware for mobile operators and service providers.
“The fundraising and the acquisition of AxisMobile is a dramatic acceleration for Synchronica and I believe that it will build value for our shareholders,” said Carsten Brinkschulte, chief executive officer of Synchronica.
“It will increase our ability to sell to customers, particularly to those in emerging economies, where we see the largest potential growth for mobile email and synchronization.”
The additional funds will be used to accelerate product integration and fuel the growth of in emerging markets such as China, Africa, the Middle East, Eastern Europe and Latin America.
Synchronica believes that emerging markets are a breakthrough area for mass-market mobile email. Research conducted by Informa suggests that there will be 4.8bn mobile phone subscribers by 2012, with the next billion subscribers coming from emerging markets, where PC and fixed-line penetration is low.
© Crimson Business Ltd. 2008
