Swiss Myriad Group AG, a provider of software for mobile and consumer electronic sectors, said on Monday it had wrapped up the acquisition of British mobile messaging services firm Synchronica Plc (LON:SYNC) after securing the required shareholder approvals.
The deal, announced in January, creates a top global mobile social messaging business servicing more than 100 carriers and 25 original equipment manufacturers (OEMs) around the world, Myriad’s chief executive Simon Wilkinson said.
The offer, whose terms were announced on 7 March, was declared fully-unconditional earlier today, with Myriad saying it had waived all the remaining conditions to the the bid, after declaring it unconditional as to acceptance on 5 April.
The all-stock deal gives Synchronica shareholders 4.83 new Myriad shares for every 100 Synchronica shares, with the settlement to take place no later than three business days after the buyer takes the tendered shares.
The two parties started negotiations last November. Based on Myriad’s closing price on 6 March, the deal values the British target at around GBP23.85m (USD38m/EUR29m), the buyer has said previously.
Synchronica is present in Europe, Asia, Latin America, North America and Africa.