Asset Deal Enables Myriad to Expand into Fast-Growing Market for Mobile Social Networking Services
DUEBENDORF-ZURICH, Switzerland – 15th September 2009 – Myriad Group AG (SIX: MYRN), a global leader in mobile technology with software in over 2 billion phones, today announced that it has acquired the brand, technology and 17 employees of privately-held Xumii, Inc., a provider of mobile social networking services based in San Mateo, California and Sydney, Australia.
"Xumii was the first software developer to combine social networks and instant messaging into a seamless mobile experience," said Simon Wilkinson, CEO of Myriad. "We are delighted that this talented team has joined Myriad."
Over the past year, social networking has emerged as the key application driving consumer adoption of mobile data services. Facebook is leading the way, already reporting 65 million mobile users per month, up from 20 million just 8 months ago. Research firm eMarketer forecasts that there will be more than 800 million mobile users of social networks by 2012.
Using a "cloud computing" architecture, Xumii integrates a mobile user’s phone contacts, social networks and instant messaging services into a single "social phonebook". Mobile users can then simultaneously access Facebook, MySpace, Flickr, YouTube, Google Talk, Yahoo Messenger, AIM, Windows Live and other popular Internet services, sending messages, updating status and sharing photos and videos.
"We are excited to be joining Myriad and to have this opportunity to accelerate the commercialisation of our technology," commented Jennifer Zanich, CEO of Xumii. (Read more)