Synchronica Buys AxisMobile For $5 Million; Raises $10 Million In New Funding


England-based Synchronica, a mobile email synchronization provider, said today it is acquiring consumer mobile email company AxisMobile for $4.9 million in stock. As part of the transaction, Synchronica also said it raised $10 million from new and existing investors. This year, the company has raised a total of $18 million. The funding will be used to integrate the two company’s products and to grow the business in emerging markets, such as China, Africa, the Middle East, Eastern Europe, and Latin America. Synchronica described the acquisition of AxisMobile as complimentary in terms of technology, customer base and distribution. Together, the two companies will be able to provide mobile email to the mass market totaling more than three billion mobile phones in the market today. Release.

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