Sharechat Logo

Aptimize investors could net $US30m-plus from sale

NZPA

Thursday 21st July 2011

Text too small?

Investors in Wellington technology company Aptimize could net more than $US30 million ($NZ35m) from its sale to San Francisco-based network equipment maker Riverbed Technology.

Riverbed helps companies move file and email servers from remote offices to data centres.

Aptimize, founded by Edward Robinson and Derek Watson, specialises in doubling the speed at which websites can be accessed, without an extra software code or hardware.

Riverbed vice-president Paul O'Farrell said it had paid less than $US20m for Aptimize, but the contract also had an earn out clause -- a payment that depends on the business' future performance, The Dominion Post reported today.

While O'Farrell described that as "small", an investor said Aptimize's former owners could end up being paid out $US30m to $US40m if Aptimize performed well.

Robinson said Aptimize's investors had put $1.45m in cash into the company.

The 10 engineers who work for Aptimize may now move to the United States, at least for a time, and Robinson will shift to San Francisco to head a new software group within Riverbed.

Riverbed also bought British company Zeus Technology for $US110m in cash to strengthen its traffic management business.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares dip as global trade jitters weigh on A2, F&P
NZ dollar set for weekly gain after Reserve Bank surprise
Burger Fuel exploring sale after review questions listing merits
New net migration data to remain rubbery for quite some time
NZX to push sales this year after reshaping business dents 2018 profit
Slowing new orders growth weighs on January PMI
New NZ dry dock a basis for new industry - KiwiRail
Wellington Drive beats 2H sales forecast, will meet earnings guidance
NZIQS decides more training is the answer to past president's misconduct
February 15th Morning Report

IRG See IRG research reports