The Board of Myriad Group AG (SIX: MYRN) ("Myriad") notes the announcement issued by Synchronica (AIM: SYNC) (TSX Venture: SYN) on 3 January 2012. Myriad confirms that it is in preliminary discussions with Synchronica regarding a potential transaction which may or may not lead to an offer being made for Synchronica.
The potential acquisition would enhance Myriad's position as a global leader in mobile messaging software, serving (on a combined basis) more than 100 mobile operators and over 20 handset manufacturers, while delivering operating efficiencies through significant synergies. Synchronica's complementary technology added to Myriad's existing unrivalled portfolio would provide an additional opportunity for the combined organisation to drive growth.
In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers (the "Code"), Myriad must, by not later than 5.00 p.m. on 31 January 2012, either announce a firm intention to make an offer for Synchronica in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of The Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.
On 4 January 2012 Myriad issued an announcement in accordance with Rule 2.10 of the Code.
This announcement will be available on Myriad's website () on 5 January 2012 and the Synchronica's website (www.synchronica.com) by no later than 12 noon (London time) on 6 January 2012.
This is an announcement falling under Rule 2.4 of the Code and does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Code. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made. A further announcement will be made in due course.
For further information:
Myriad Group AG
James Bodha, Chief Financial Officer
Tel: +41 44 823 8900
Richard Hornby, Investor Relations
Kate Hamilton, General & Media Enquiries