Synergy to establish new mobile commerce subsidiary

Announcement 1 November 2006

Synergy International Limited has announced that it plans to transfer its Fronde Anywhere mobile commerce business into a separate subsidiary company. “Since the launch of our latest Bank Anywhere product portfolio, with Kiwibank as our pilot customer, we have had strong interest from both banks and potential integration partners in Britain, Australia, and the USA,” explained CEO Jim Donovan. “Synergy’s main business is in IT professional services and managed services. Our mobile commerce business runs under a different business model, has huge growth potential, and probably needs significant external venture capital as well. This move will facilitate Fronde Anywhere’s development, and is a vote of confidence in its future.”

Fronde Anywhere offers software and transaction services for mobile banking, mobile payments, mobile messaging and mobile identity management. “People are increasingly comfortable with using their mobile phone as an interactive device,” said Caroline Dewe, Fronde Anywhere’s director of marketing and product development. “Our latest offerings provide much greater functionality, speed, and a truly interactive user experience, as well as strong security.” The new business unit will be headed by Dean Johnson, who brings 25 years of banking and IT experience in Britain, America, Southeast Asia and Australasia, and who joined Synergy last year.

Synergy designs, builds and operates industrial-strength business transaction and payment systems for clients in Australasia, East Asia, Europe and North America. With over 200 staff in Auckland, Wellington, Singapore and London, Synergy will continue to offer implementation, support and hosting services to Fronde Anywhere customers.