ShoZu Directors Comment on Acquisition by Critical Path

'Successful outcome for both companies;' 'start of next phase of growth'

Jan 05, 2010, 04:03 ET from ShoZu

LONDON, Jan. 5 /PRNewswire/ -- ShoZu issued the following statement in conjunction with news of today's acquisition of the award-winning social media hub by Critical Path, Inc., a leading provider of messaging applications and enterprise solutions:

"We're delighted to have found the perfect home for the ShoZu brand and service in Critical Path," said Chris J. Wade, Chairman and CEO. "We couldn't be more pleased with the seamless fit of our combined technology and approach to serving the market and the opportunity for our outstanding engineering team to continue to make important technical contributions to Critical Path going forward. We strongly believe in the roadmap for our future together serving Critical Path's traditional customers, as well as new users attracted by the power of our combined applications. The acquisition of ShoZu by Critical Path really is a beneficial matchup for both companies -- resulting in a powerful capability for elegantly sharing, communicating and collaborating on information that's at the core of personal and business relationships."

Nigel Pilkington, ShoZu Board Director from SEB Venture Capital UK, said: "We are very pleased with the transaction and delighted with Chairman Chris Wade's role in creating and completing this agreement. Chris came in on a day-to-day basis at a critical juncture when he took on the additional responsibilities of CEO in June 2009 and very quickly managed the company to a successful outcome for us."

Chris Wade concludes, "I also can't speak highly enough about the support from the team at SEB Venture Capital UK, the lead investors in ShoZu, as well as the significant contribution from our communications agency, Comunicano, and its CEO, Andy Abramson."

About ShoZu

ShoZu is an intelligent social media hub used by people worldwide to enrich connections with the people in their lives by effortlessly exchanging video, pictures and commentary between mobile devices and favorite social networks, photo sharing sites and information resources. The company's patented technology provides fast, easy, one-click uploads of photos and video clips from the mobile to the Web, full-resolution photo and video delivery without compression, an emerging suite of services that push content to the phone, the ability to work in the background even if a connection is dropped, and other unique features that simplify and enhance the user experience. The company was founded in 2000 and has formed partnerships with some of the leading players in the mobile ecosystem, including Motorola and Samsung.

About Critical Path, Inc.

Critical Path's Memova® suite of applications and services are chosen by leading service providers and enterprises around the world to enable millions of people to communicate, connect, share and organize while providing industry-leading safety and assurance. With offices around the globe, Critical Path supports companies with their deployments of Memova solutions to drive revenue, boost loyalty, streamline operations and reduce costs. More information is available at www.criticalpath.net.

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