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.
No comments yet
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report