Synchronica has realised $3.75m (£2.54m) through the sale of assets which it acquired when it purchased Axis Mobile in September this year.
In August, the email and mobile synchronisation company raised £4.2m which paid for the acquisition and raised working capital for the next 12 months. It purchased the company with 85 million new shares.
The acquired company’s technology has now been integrated into the next version of Synchronica’s flagship product Mobile Gateway which will be available early in 2009.
“This realisation of current assets is a very positive result from the acquisition,” said Carsten Brinkschulte, the company’s chief executive.
“We are obviously pleased to have realised such a large sum, significantly strengthening our balance sheet.
“This transaction almost meets the costs of the acquisition while maintaining the upside of revenues from acquired customers and technology.”
© Crimson Business Ltd. 2008