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Aptimize investors could net $US30m-plus from sale

NZPA

Thursday 21st July 2011

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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.

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