Adamind to Acquire SenseStream

Feb 10, 2006

Adamind Ltd, a global supplier of media adaptation software for mobile messaging (MMS), content, and convergence services market, has announced it has signed an agreement to acquire all of the issued and outstanding share capital of Hong Kong based SenseStream Ltd. ("SenseStream"), a content adaptation and media technology solution product vendor in Asia Pacific, for a consideration of up to $2,000,000 in cash and shares. Under the terms of the agreement, Adamind will pay an initial amount at completion of $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 of February 2006.