Offers just over £20m for UK-based messaging firm.
Myriad and Synchronica overlap in one key business area – that of building messaging, email and social media products for operators in emerging markets.
Myriad said in a statement that a merger would deliver "an enhanced product portfolio and cross-selling opportunities. The combined businesses should be well positioned to exploit the
opportunities presented by the growing global demand for mobile data consumption."
The former, which is listed in Switzerland, is the slightly bigger player, and made a hostile bid for Synchronica last month.
Now it's having another go, inspired by its belief that its target is weak because it cannot afford to pay the balance on the deal it did last year to buy out Nokia's messaging business.
It has launched a fresh bid to acquire the entire share capital of Synchronica, with shareholders areentitled to receive 4.67 newly issued Myriad shares for every 100 Synchronica shares.
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That values each Synchronica share at 13p plc and therefore values the company at £20.63 million. Myriad has a market value of nearly £140m.
The deal seems to hinge on the Nokia issue, as Synchronica still owes $20m on the $25m deal, and has to pay the balance before the end of 2015.
Myriad's statement said: “The Myriad Board does not believe that Synchronica, given its current financial position and future prospects, will be able to repay the Nokia debt and would also question Synchronica’s ability to meet the current repayment schedule in the short term.”
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