By Phil Boeyen, ShareChat Business News Editor
|
Monday 13th August 2001 |
Text too small? |
New Zealand Post has signed a conditional contract to acquire the 80% of MessageMedia that it does not already own, subject to the satisfactory completion of due diligence.
NZ Post enterprises boss, John Allen, says MessageMedia is the industry leader in on-line marketing communication in New Zealand and had performed well financially.
"MessageMedia has demonstrated a clear focus on achieving sales targets, signing over 30 customers within 12 months, including Air New Zealand, ASB Bank, The Warehouse and INL.
"Our belief in the potential of MessageMedia has strengthened since our initial investment in September last year. In many ways the company has been a model start-up, gaining first-mover advantage in the local market with a quality product."
NZ Post bought into MessageMedia, which offers such services as database management and online delivery of information product, in September last year.
eVentures floated on the market last year, just in time to get slapped around by the tech meltdown. Auckland entrepreneur Craig Heatley now has a majority stake in the company after organising a share buyback in June.
No comments yet
