Adamind has signed an agreement to acquire all of the issued and outstanding share capital of SenseStream for a consideration of up to $2M

February 8, 2006

2 Min Read

MILPITAS, 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.

Description of SenseStream

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.

Since 2002, SenseStream provides critical Multimedia Management Technology that many mobile multimedia services and applications rely on to successfully and seamlessly deliver multimedia messages. SenseStream's advanced and powerful multimedia content adaptation server, DynaFitT Server, is used by many of Asia's leading wireless operators for deployment of successful mobile multimedia services. Its proprietary PONFAT (Publish Once N Fit All) Server and publishing tools allow content providers to create and publish wireless multimedia contents. SenseStream also participates in the commercialization of the new AVS-M (video on mobile) China video standard.

Kiok Tan, CEO of SenseStream, has a long history of building up a business in the communications industry. Prior to setting up SenseStream, he worked for Motorola for six years, his last assignment was as Business Director at Motorola China, Personal Communication Sector, based in Beijing. He also worked with HP as Marketing Manager, Asia Pacific for many years prior to joining Motorola. The CTO and co-founder is Eno Tsin who was formerly a research scientist with computer laboratories of London and Cambridge University. He was a Technical Manager with SkyTel and was co-founder of Media60X that developed the first commercial location based system using enhanced Cell-ID technology in Hong Kong in 1996.

Adamind

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