Myriad Group launches $32.7M Synchronica takeover bid

Mobile software provider Myriad Group has launched a takeover bid for messaging services firm Synchronica valued at $32.7 million. In June 2011, Nokia agreed to sell its messaging business to Synchronica; although financial terms were not disclosed, Myriad Group believes the company will be unable to meet its obligations. "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," Myriad said in a statement. Myriad first approached Synchronica about a buyout last month, but the two sides could not reach an agreement. Release