During April 2007 the Board of Adamind announced that the Company has completed the sale to Mobixell Networks (Israel) Ltd. ("Mobixell") a wholly owned subsidiary of Mobixell Networks Inc., a Delaware company, of substantially all the Company's assets and assignment of certain related liabilities (the "Transaction"). Under the asset purchase agreement Adamind’s technologies, software, and products have become part of Mobixell’s Portfolio of Mobile Multimedia Solutions to form a powerful market leader in the Mobile Multimedia domain.