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£24 million Hostile Share Offer for Synchronica plc

30th April 2012


Zeus Capital, the Manchester and London based Corporate Finance advisory firm, has advised Swiss listed Myriad Group AG, on the successful £24 million Hostile Share Offer for Synchronica plc, a company listed on the AIM and Toronto TSX-V Stock Exchanges.

Following the release of an “in talks” announcement on 3 January 2012, the Hostile All Share Offer was announced on 31 January. On 28 February the publication of the formal Offer Document and a UKLA approved, Canadian and Swiss compliant prospectus ruary were sent to Synchronica shareholders.

On 7 March Myriad secured a recommendation, for its revised Offer, from the Synchronica Board. Myriad announced on 16 April that is had received acceptances of over 80% and that the Offer was declared unconditional in all respects. Synchronica will de-list from AIM on 16 May.

Zeus advised Myriad on the takeover strategy and tactics throughout the process.

Richard Hughes from Zeus Capital commented:
“We are delighted to have advised Myriad on the Hostile Offer for Synchronica. A hostile, cross border, Share Offer is very unique and requires a broad set of corporate finance and negotiation skills which highlight the ability we have across the team to successfully execute a transaction of this nature.”

The Zeus deal team comprised of Richard Hughes, Nick Cowles and Andrew Jones.

Myriad is a software company providing software solutions and services for the mobile phone and consumer electronics industries.

Myriad is a Swiss company traded on the Main Standard of the SIX Swiss Exchange and provides software solutions and services for the mobile phone and consumer electronics industries. As an experienced player in mobile technology, operating from 14 locations across the world, Myriad provides the software and platforms that power hardware and services for leading brands in mobile, consumer electronics and, increasingly, digital media. As a specialist in embedded device software, with expertise in social media, since its inception Myriad has shipped more than 3.8 billion software applications in more than 2.2 billion mobile phones.

Synchronica is a developer of next generation mobile messaging solutions based on open industry standards. Synchronica’s business is now predominantly based on its flagship product, Mobile Gateway, providing push email, synchronisation, instant messaging (IM), backup and restore and mobile connectivity to popular social networking services. Synchronica’s products are white-labelled and offered by mobile network operators and device manufacturers in emerging and developed markets.