Electricity firm buys into Pulse Data

By Phil Boeyen, ShareChat Business News Editor

Thursday 29th November 2001

Christchurch-based electricity network company, Orion New Zealand, has taken a 10% stake in niche electronic firm Pulse Data International.

Pulse Data designs and manufactures electronic devices for totally blind and partially sighted people and was formed in 1988. Till now it has been largely management-owned.

Orion MD, Chris Laurie, says his company's cornerstone investment means Pulse Data can now expand its global business, with spin-off for employment and the Christchurch economy.

"Pulse Data International has been very successful in recent years and has gained an international reputation. As a Canterbury-based investor, we are keen to invest in local companies which will benefit from our involvement."

Pulse Data boss, Russell Smith, says Orion's backing and support will allow the company to expand its product range and operations and grow internationally.

Orion was formed when local-government owned Southpower was split into separate lines and retail businesses and remains under the ownership of the Christchurch City Council and Selwyn and Banks Peninsula Councils.

The company says the investment in Pulse Data continues its strategy of investing in technology businesses.

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