By Nicholas Bryant
Thursday 20th April 2000 |
Text too small? |
Strategic, an offshoot of property and finance company Strategic Investment Group, has signed a conditional agreement to buy 50% of a South Island-based technology and media company with plans to set up a national wireless internet network.
Strategic's chief executive, Paul Bublitz, would not identify the company.
It was unclear whether the new venture will be a direct competitor to Walker Datavision's Walker Wireless or Wilson Neill's Radionet. But Mr Bublitz said it would have a national focus.
Strategic Capital, set up late last year as a subsidiary of Strategic Investment Group, had identified wireless as a growth business with room for more players. The deal is the first of five on Strategic Capital's drawing board, with the four others - one of them a foreign company - involved in technology.
It is one of a growing group of venture capital outfits looking to cash in on technology but that does not bother Mr Bublitz as Strategic Investment Group has spread its risk over a number of ventures.
The group began in 1992 as Trident Property but changed its name last year to reflect a shift in business focus from property to wider investment.
Its major shareholders are Mr Bublitz, former All Black and executive director Jock Hobbs and Canadian-born property investor John Prendergast.
A quiet mover in the commercial property industry the company had assets of more than $100 million by 1997.
It has a syndication arm, Strategic Property; a development funding arm, Strategic Finance; and Strategic Development Trust.
No comments yet
IKE 1Q FY26 Performance Update
July 29th Morning Report
General Capital Annual Shareholders Meeting Results
MEE - Receivers and Liquidators appointed to King Honey
2 Cheap Cars Group Updates Performance Outlook for FY26
Spark announces Director changes as part of Board renewal
July 28th Morning Report
KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating