BSD.L Regulatory News (BSD)

7 Jan 2005 07:00

Emblaze Ltd07 January 2005 7 January 2004 Adamind Ltd INTENTION TO FLOAT Adamind Ltd ("Adamind" or "the Company"), a global leader in media adaptationsoftware products for the MMS (multimedia messaging) market, announces itsintention to float on the AIM of the London Stock Exchange. Adamind develops and sells software to global mobile operators that primarilyenables delivery of images, ringtones, audio and video between mobile phones.Multimedia messaging, also known as MMS, is considered to be the nextsignificant revenue driver for mobile operators while its use is being hinderedby basic incompatibility between mobile handsets making content impossible toview by the receiving side. Adamind's products solve the handset incompatibility problem by real-time, "onthe fly" adaptation of the content via a central software solution residingwithin the operator's MMS server infrastructure. The products are sold throughsystem integrators and strategic global MMS infrastructure vendors such asOpenwave, LogicaCMG and other top class vendors to mobile phone operatorsworldwide. Adamind has already gained commercial deployments for MMS in over 80tier-1 and tier-2 operator customers across the globe. The purpose of the flotation is to enable Adamind to raise new funds toaccelerate its growth plans and enhance its corporate profile. Adamind was formed through the combination of the media adaptation businesses ofEmblaze and Philips in September 2004. Pre flotation, on a fully diluted basis,Philips holds 25.5 per cent and Emblaze holds 59.5 per cent of the shares inAdamind. 15 per cent has been reserved for employees via the Employee StockOption Program. Media adaptation is a key requirement for the success of the rapidly growing MMSmarket. Furthermore, the market for media adaptation software is anticipated togrow substantially beyond MMS due to increased spending on mobile datainfrastructure, rising demand for advanced handsets and the availability of awide range of content, all aimed at driving up average subscriber revenue. Bridgewell are acting as nominated adviser and broker to Adamind. Enquiries: Adamind 020 7645 2990 on the day and thereafterShailendra Jain, CEO +1 408468 3961 EmblazeDoron Cohen, Hagit Gal + 972 9 7699831/ 339 PhilipsAndre Manning +31 20 5977199 BridgewellGiles Elliott, Simon Bridges, Stephen Cheung 020 7003 3000 Corfin CommunicationsHarry Chathli, Neil Thapar 020 7645 2990 This information is provided by RNS The company news service from the London Stock Exchange