Synchronica to enter mobile device manufacturing arena

12th Jun 2009 16:04

Mobile e-mail and synchronisation specialist Synchronica has raised £4.7m through a placing of 189m shares at 2.5p each to finance an assault on the entry level push e-mail market. The company has entered into a collaboration agreement with third parties to design, build, market and sell low cost mobile devices to be bundled with Synchronica's mobile gateway product. As part of the agreement the company will pump $1m to the new venture to contribute to the increase in operating expenses to be incurred by one of the partners in the collaboration. Carsten Brinkschulte, chief executive of Synchronica, said the proposed collaboration 'will allow the Company to complement its mobile email and synchronization product with a device-centric end-to-end solution, at a time when the company believes mobile email as a tool for mass market communication is expected to grow significantly.'