Adamind buys Chinese company

Media mobile software provider Adamind Ltd. agreed to acquire Hong Kong-based SenseStream Ltd.for $2 million in cash and shares.

By AVI KRAWITZ
February 9, 2006 06:35

Media mobile software provider Adamind Ltd. agreed to acquire Hong Kong-based SenseStream Ltd.for $2 million in cash and shares. Under the agreement, Adamind will pay $1m. in cash on completion the deal with the balance payable in shares by April 2007, dependent on certain targets being met during 2006. The deal is expected to close by the end of the month.An Adamind spokesperson said the company plans to merge all of SenseStream's activities within 12 months and to absorb its 10 workers into the Adamind structure. Ra'anana-based Adamind currently has 70 workers.


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