Synchronica Wins Expansion Order from Tier-1 Handset Manufacturer
ROYAL TUNBRIDGE WELLS, UK, Dec. 9, 2011 /CNW/ - Synchronica plc ("Synchronica" or "the Company") (AIM: SYNC) (TSX Venture: SYN), the international provider of next-generation mobile messaging services announces that it has received an expansion order for professional services, from an existing Tier-1 mobile device manufacturer customer.
The order, which is valued at US$ 580,000, enables Synchronica to provide the customer with continued support and product development throughout 2012.
All revenue associated with the order will be recognised during the 2012 financial year; however under the terms of the order, the customer is required to make an immediate payment of 50 percent of the order's total value. The remaining 50 percent will in turn be payable to Synchronica later in 2012.
"This expansion order demonstrates that Synchronica's solutions continue to be viewed as a key differentiator in the highly competitive handset market," says Simon Taylor, Synchronica's EVP for International Sales and Business Development. "With Portio Research projecting global revenues from mobile email to exceed US$ 82 billion by 2016, and mobile Instant Messaging generating an estimated US$ 31 billion at the same time, mobile messaging is a service that is increasingly becoming an absolute 'must-have' on all grades of handsets."
Angus Dent, Synchronica's Chief Executive Officer, added: "This is our first recurring-revenue order for 2012, and the fact that it's an expansion deal from a worldwide 'top-5' device manufacturer truly sets Synchronica off to a great start. We look forward to further enhancing our recurring revenue profile throughout the New Year."
About Synchronica
Synchronica plc is a leading developer of standards-based, next-generation mobile messaging solutions for mobile operators and device manufacturers. The Company's flagship product - Synchronica Mobile Gateway - provides pre-RCS push email, synchronisation, instant messaging (IM), and social networking services to any mobile phone currently in use. Synchronica's patented transcoding technology uses advanced streaming to download email attachments and dramatically reduces the consumption of wholesale network bandwidth by as much as 90 percent.
Synchronica's white-labelled products are licensed by more than 90 mobile operators and eight device manufacturers from emerging and developed markets, delivering mass market messaging services across the entire customer base, providing competitive advantage, diversifying revenues, and reducing churn.
Synchronica is headquartered in the United Kingdom and has a regional presence in Canada, as well as the USA, Hong Kong, Spain, and Dubai. Synchronica also operates dedicated development centres in Germany and the Philippines. A public company, Synchronica is traded on the AIM list of the London Stock Exchange (SYNC) and the Venture Exchange of the Toronto Stock Exchange (SYN). For further information, please visit www.synchronica.com
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Synchronica. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Synchronica's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Synchronica with the TSX Venture Exchange and securities regulators. Synchronica does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
For investor relations enquiries, please contact: The order, which is valued at US$ 580,000, enables Synchronica to provide the customer with continued support and product development throughout 2012.
All revenue associated with the order will be recognised during the 2012 financial year; however under the terms of the order, the customer is required to make an immediate payment of 50 percent of the order's total value. The remaining 50 percent will in turn be payable to Synchronica later in 2012.
"This expansion order demonstrates that Synchronica's solutions continue to be viewed as a key differentiator in the highly competitive handset market," says Simon Taylor, Synchronica's EVP for International Sales and Business Development. "With Portio Research projecting global revenues from mobile email to exceed US$ 82 billion by 2016, and mobile Instant Messaging generating an estimated US$ 31 billion at the same time, mobile messaging is a service that is increasingly becoming an absolute 'must-have' on all grades of handsets."
Angus Dent, Synchronica's Chief Executive Officer, added: "This is our first recurring-revenue order for 2012, and the fact that it's an expansion deal from a worldwide 'top-5' device manufacturer truly sets Synchronica off to a great start. We look forward to further enhancing our recurring revenue profile throughout the New Year."
About Synchronica
Synchronica plc is a leading developer of standards-based, next-generation mobile messaging solutions for mobile operators and device manufacturers. The Company's flagship product - Synchronica Mobile Gateway - provides pre-RCS push email, synchronisation, instant messaging (IM), and social networking services to any mobile phone currently in use. Synchronica's patented transcoding technology uses advanced streaming to download email attachments and dramatically reduces the consumption of wholesale network bandwidth by as much as 90 percent.
Synchronica's white-labelled products are licensed by more than 90 mobile operators and eight device manufacturers from emerging and developed markets, delivering mass market messaging services across the entire customer base, providing competitive advantage, diversifying revenues, and reducing churn.
Synchronica is headquartered in the United Kingdom and has a regional presence in Canada, as well as the USA, Hong Kong, Spain, and Dubai. Synchronica also operates dedicated development centres in Germany and the Philippines. A public company, Synchronica is traded on the AIM list of the London Stock Exchange (SYNC) and the Venture Exchange of the Toronto Stock Exchange (SYN). For further information, please visit www.synchronica.com
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Synchronica. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Synchronica's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Synchronica with the TSX Venture Exchange and securities regulators. Synchronica does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
| Walbrook PR Ltd +44 (0) 20 7933 8780 | Investor Enquiries, UK | Paul Cornelius paul.cornelius@walbrookir.com |
| TMX Equicom +1 416 815 0700 Ext 290 | Investor Enquires, North America | Craig MacPhail cmacphail@equicomgroup.com |
| Synchronica plc +44 (0) 1892 552 720 | Chief Executive Officer | Angus Dent |
| Northland Capital Partners +44 (0) 207 796 8800 | Nominated Advisor Corporate Broker | Shane Gallwey; Rod Venables Katie Shelton |
| Walbrook PR Ltd +44 (0) 20 7933 8780 | Media and Analyst Enquiries, UK | Paul McManus paul.mcmanus@walbrookpr.com |
| TMX Equicom +1 416 815 0700 Ext 290 | Media and Analyst Enquiries, North America | Craig MacPhail cmacphail@equicomgroup.com |
Source: Canada Newswire (December 9, 2011 - 12:54 PM EST)
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