14 Jul 2010

Mobile phone marketer bought by US company

7:02 am on 14 July 2010

A leading US media company, Meredith, has bought the rest of New Zealand-based mobile phone marketing specialist, The Hyperfactory.

Meredith, which publishes Better Homes and Gardens and Family Circle, took a 20% stake in The Hyperfactory in July last year and has now bought the remainder of the company.

Hyperfactory provides mobile and web-based advertisements and branding campaigns to firms around the world. It was founded by New Zealanders Geoffrey and Derek Handley in 2001.

No price has been disclosed, but Derek Handley says it's comparable to recent leading technology deals for New Zealand companies.

Some of the more high profile sales of New Zealand technology firms in recent years, include Rod Drury selling AfterMail for more than $60 million to Quest Software in 2006.

In 2004, technology investor Peter Maire sold Navman to the US marine and leisure products company, Brunswick, for $108 million.