Founder says Vend s $455m offshore sale will be good for NZ
12 Mar, 2021 04:45 AM
5 minutes to read
Vend founder Vaughan Fergusson began his company with a single customer - a clothing store in Remuera, but it was enough to gain the attention of early backer Sam Morgan. Photo / Jason Oxenham
Backers of Auckland-based retail software company Vend say its US$350 million ($455m) sale to a US competitor will be good for New Zealand. The sale has potential to reignite debate about why so many Kiwi tech companies end up in North American hands - particularly as it was announced within hours of news that Christchurch 3D modelling software outfit Seequent is being sold to Nasdaq-listed Bentley Systems for US$900m.