Integration of Myriad Group and Purple Labs to be completed mid-year

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May 13th, 2009 Leave a comment Visited 28 times, 1 so far today

DUEBENDORF-ZURICH, Switzerland – May 12, 2009 – Following its recent acquisition of Purple Labs SA, Myriad Group AG (formerly Esmertec AG) today announced that the integration of the two companies and the realisation of the targeted synergies are both on schedule, with the majority of the consolidation to be completed mid-2009.

“In its first eight weeks, the new Myriad Group has moved rapidly towards a single integrated organisation, to make full use of our distribution strength, increased scale and efficiencies across the entire Group,” said Simon Wilkinson, Myriad Chief Executive Officer. “We are finding significant cost savings and have already begun to realise our target of $13 million of synergies in optimising staff resources and aligning them within common facilities, processes and infrastructure.”

As a result of the Purple Labs integration, Myriad will record a one-time charge of approximately $6 million in the first half of 2009.

Myriad Group is organised and will report results in two business segments: Device Solutions – provided to leading manufacturers of mobile phones and other devices, which includes the Java products originally developed by Esmertec, the mobile phone software acquired from Sagem in late 2008, and the Purple Labs portfolio; and Mobile Services Platforms – which includes the company’s customer self care solutions already provided to more than 30 mobile network operators.

“The new organisation will enable Myriad to better serve customers in both of these segments,” commented Wilkinson. “We now have about 700 software engineers committed to developing and delivering outstanding mobile software, which will open new opportunities for revenue growth.”

Myriad will release a Q1 2009 business update on June 2, 2009.

Investor Relations

Steve Langkamp

Chief Commercial Officer

Tel: +44 161 486 5090

Nicolas Fiorini

Head of Corporate Strategy

+41 44 823 8900

Email: investor_relations {at} myriadgroup(.)com

General Inquiries

Kate Hamilton

Director of Marketing

Tel: +44 1252 519832

Email: press {at} myriadgroup(.)com

Investor Calendar

Annual General Meeting (AGM) May 19, 2009

Q1 2009 Business update June 2, 2009

About Myriad

On March 18th 2009, Esmertec AG shareholders approved the acquisition of Purple Labs SA, creating Europe’s leading mobile software vendor. We then changed our name to Myriad Group AG, to reflect the magnitude and diversity of our team and technologies in the combined business.

Myriad now provides the best selling products in four of the most important mobile software categories: Java engines, browsers, mobile messaging and USSD-based customer self-care.

Given this unrivalled portfolio of software and the deep expertise of our engineering team, Myriad is clearly positioned to be both a global leader in mobile software, and the partner of choice for manufacturers and network operators seeking to create branded experiences on mass market phones.

Myriad is headquartered in Dübendorf-Zürich Switzerland and is listed on the SIX Swiss Exchange (SIX Symbol: MYRN).





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