Auckland high-tech co wins Hewlett Packard contract

By NZPA

Tuesday 13th February 2007

An Auckland-based company has won a contract from Hewlett Packard to supply optical touch screen technology for home computers.

NextWindow said today it was selected over international giants, including 3M and Elo -- part of Tyco -- to supply Hewlett Packard with the touch technology for its newly announced TouchSmart PC.

The TouchSmart was unveiled by Microsoft chairman Bill Gates at the Consumer Electronics Show in Las Vegas last month as an example of PC technology designed to take advantage of the new Microsoft Vista operating system.

NextWindow chief executive Al Monro said he expected the Hewlett Packard contract to be worth in the high single millions in the first year.

It was hard to put a figure on the value of the deal, partly because the product was new and it was not known what demand would be like.

NextWindow was now seeking to raise about $4 million to expand its business, Monro said.

Working capital was needed to fund the company's manufacturing expansion and for further research and development.

NextWindow manufactures volume products in Thailand and larger products in Auckland.

Monro said its preference was to keep the company privately owned in New Zealand and was appealing to local high net worth individuals to become partners in the venture.

The major shareholders in NextWindow were private equity funds, with other shares held by the original angel investors, he said.

The company was formed in 2000, with the decision made in 2002 to commercialise the technology, originally developed by chief technology officer John Newton.

Before winning the Hewlett Packard contract NextWindow was already developing a leadership position within the interactive whiteboard and digital signage market.

Exports to Australia, the United States, Asia, Europe and Scandinavia account for 95% of its business.

New Zealand Trade and Enterprise has given NextWindow support for market development and participation in exhibitions which helped develop its business, and develop channels to market.

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