Wellesley, MA and Palo Alto, California - Mobixell, a leading provider of innovative mobile multimedia solutions and Adamind (LSE: ADA), a global supplier of media adaptation software for the mobile messaging (MMS), content, and convergence services markets, announce that an agreement has been signed on the terms of sale of Adamind's assets to Mobixell. Mobixell intends to merge Adamind's products and technologies to form a powerful market leader in the Mobile Multimedia domain.

Adamind's assets to be sold to Mobixell include intellectual property, software, and contracts with customers and suppliers relating to the development, marketing, and sale of all Adamind's transcoding and Mobile Multimedia software (the "MediaSpire" product family). In addition, the majority of the Adamind's employees will become employees of Mobixell.

Mobixell will stand by its commitment to continue the support of existing customers from both companies. Mobixell further intends to continue the development plans according to previously communicated roadmaps, and invest greater resources in the development of new and exciting mobile multimedia solutions.

Amir Aharoni, Chief Executive Officer of Mobixell said: "The synergy between both companies; their strategy of developing products according to a best-of-breed approach, and building on the leading capabilities of each of the organizations, will create an entity that is greater than the parts constituting it. By combining the Adamind and Mobixell product portfolios, the company is now well positioned in the marketplace as an expert in the area of multimedia over mobile, and can offer existing and new customers a wider best-of-breed set of technologies."

"This step forward fortifies the company's presence in the marketplace with a more balanced regional spread, and greater resources invested in development, global support, and professional services. The combined customer installed base is impressive, with over 150 mobile operator and content provider deployments worldwide, and strategic relationships with most of the top MMSC and Mobile Multimedia Value-Add-Service vendors in the marketplace," says Shailendra Jain, CEO of Adamind.

"The trend within the mobile multimedia market reveals a need for consolidation in order to gain stronger market positions. This step reflects this consolidation, and provides the company with a compelling opportunity to emerge as a strong and dominant player in the market with a secure future," says Orna Berry, Executive Chairperson of Adamind.

The company intends to lead the mobile lifestyle revolution by continuing to develop and deliver innovative Mobile Multimedia solutions to enable Peer-2-Peer content sharing, User Generated Content Communities, mobile advertising, and more. Service and content providers around the world will thus be enabled to generate new revenue streams, maximize the mobile multimedia business, and enjoy higher ARPU which derives from these services.

Enquiries

Mobixell

Amir Aharoni, Chief Executive Officer +972-54-5615000

Adamind

Orna Berry, Executive Chairperson +972 9 971 9111

Shailendra Jain, Chief Executive Officer +1 801 231 9076