Another twist in the corporate story of the UK messaging specialist.
Last week Synchronica was the subject of a second takeover bid by Myriad Group (after a first attempt in January was rebuffed).
That deal is still possible given that the Synchronica board didn't advice for or against it.
But while that simmers away, it emerges that Synchronica has formed a joint venture with Toronto based technology incubator Intertainment Media - and that the Canadian group is also investing up to C$10 million as part of the agreement.
The letter of intent envisages Synchronica and Intertainment integrating the former's messaging platform, Mobile Gateway, with Intertainment's Ortsbo experiential language technology ti improve the real-time translation between more than 50 languages.
Meanwhile a new subsidiary will allow Synchronica and Intertainment to develop each other's products, share R&D efforts, enlarge each other's business development activities and drive revenue.
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Intertainment will make a further investment in March 2012 of between C$1 million and C$5 million.
Synchronica chief executive Angus Dent said: "This is a new and exciting partnership for Synchronica. Ortsbo complements Synchronica Mobile Gateway, and together we're able to provide a unique possibility for our customers to position themselves as the hub for social interaction, regardless of geographical or language limitations.”
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