Adamind acquires SenseStream, supplier of mobile content adaptation software for $2M in cash and shares

February 8, 2006

1 Min Read

PALO ALTO, Calif. -- Adamind Ltd ("Adamind" or the "Company"), the leading global supplier of media adaptation software for mobile messaging (MMS), content and convergence services market, announces it has signed an agreement to acquire all of the issued and outstanding share capital of Hong Kong based, SenseStream Ltd ("SenseStream") for a consideration of up to US$2,000,000 in cash and shares. Under the terms of the agreement, Adamind will pay an initial amount at completion of US$1,000,000 payable in cash with the balance payable in shares by April 2007, dependent on certain targets being met during 2006. The deal is expected to close by end February 2006.

SenseStream is a leading 2.5G / 3G MMS content adaptation and media technology solution product vendor in Asia Pacific. It develops, markets and distributes software that helps Service Provider, Portal and Enterprise customers to provide and deploy mobile value added service for business and wireless solutions.

SenseStream's acquisition is the first by Adamind since its flotation in February 2005 and marks a major strategic move by the Company to expand into mainland China, Hong Kong and Taiwan as large amount of monies are being invested in telecommunications infrastructure to cope with demand in the run up to the Olympics in 2008 and beyond.

Shailendra Jain, CEO of Adamind, said: "The acquisition of SenseStream is a strategic milestone for Adamind and takes us into the world's most dynamic mobile data market. We will gain access to major customer accounts in China, creating a truly global footprint for Adamind as well as shareholder value in the long term."

Adamind

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