Blackberry Mobility Featured Article

Mobile messaging solutions developer Synchronica plc., announced that it completed its acquisition of Canadian competitor iseemedia, Inc., gaining a wider foothold in the emerging market in India, the second biggest mobile market.

Synchronica said it has already purchased the 86 percent of the share in iseemedia (News - Alert) and would acquire the remaining shares by 2011. The group has also obtained additional funding and listed on the Toronto Stock Exchange.

The acquisition adds Synchronica’s (News - Alert) contracts with many mobile operators in India, extending its market to 853 million subscribers.

Synchronica now says it will integrate iseemedia's document transcoding technology into its solutions. The company believes iseedocs will enhance Mobile Gateway's (News - Alert) Email attachment handling with streaming attachments directly to the users mobile phone, enabling mobile operators to reduce their network bandwidth consumption by up to 90 percent.

In order to fund the combined business, Synchronica said it raised GBP 1.7m from London and CAD 3m from Toronto. Also iseemedia sold its interest in its RealBiz360, Inc., subsidiary, raising an additional CAD 1.5m, resulting in a total of CAD 7.13m additional funds for the combined business.

The acquisition has indeed bolstered Synchronica 's presence in the emerging markets, where broadband infrastructure is often outdated or simply unavailable, and very few households own a personal computer.

"We are encouraged by the success of our fund raising activities, which is an endorsement of Synchronica's strategy. With our additional listing in Toronto, we look forward to welcoming North American investors keen on investing in our innovative growing company," said Carsten Brinkschulte (News - Alert), CEO of Synchronica, in a press release.