Synchronica Wins Expansion Order

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Synchronica Plc (LSE:SYNC) announced in a news release on Friday that it has received an expansion order for its services from a tier-1 mobile device manufacturer.  The news sent share prices up 13.5% to 5.25 p in mid-morning trading.

Order Value

According to the company, the order is valued at US$580,000 and it allows Synchronica to provide the customer with product support and development through 2012.

The revenues from the order will be recognised in the 2012 financial year, with 50% paid by the customer up front and the remaining 50% payable later next year.

Executive Team Comments

Executive Vice President, Simon Taylor said:

“This expansion order demonstrates that Synchronica’s solutions continue to be viewed as a key differentiator in the highly competitive handset market. 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.”

Also commenting on the news, CEO Angus Dent stated the following:

“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.”

Company Spotlight

Synchronica Plc is a mobile messaging solutions provider traded on the AIM and based out of the United Kingdom. Their primary product is the Synchronica Mobile Gateway, which provides instant messaging, push emails, synchronisation, and social networking services to any mobile phone. According to the company, their product allows for quick streaming download of emails and reduces the consumption of bandwidth by up to 90%.

Synchronica is licensed by more than 90 mobile operators and 8 mobile device manufacturers. They have a presence in both established and emerging markets with operations in the UK, Canada, the United States, Hong Kong, Spain, and Dubai.

References
Synchronica News Release
 About Synchronica

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