US Nasdaq-listed company buys Christchurch-based Seequent for US$1.05 billion
11 Mar, 2021 11:59 PM
2 minutes to read
NZ Herald
Christchurch-based Seequent, known for earth modelling software among other things, has been snapped up by Nasdaq-listed engineering software company Bentley Systems for US$1.05 billion ($1.45b).
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The acquisition, subject to New Zealand Overseas Investment Office approval, would see the company continue to operate as a standalone business unit within Bentley.
Seequent is a New Zealand success story, having grown from one employee in 2004 to 173 New Zealand staff and a total of 430 globally today.
Founder and CEO Shaun Maloney is retiring as part of the acquisition, with current chief operating officer Graham Grant becoming the main report to its new parent.
2020 was a challenging year like no other, and I am very proud of how well we have managed through such a rapidly changing environment. That is down to the extraordinary work and commitment of our colleagues, supporting each other as well as our customers and communities, and to all of whom, I am sincerely grateful. The crisis also reinforced the power of our relationship with The Coca-Cola Company and our other brand partners. Our collective belief in continuing to invest in our core brands has served us well, gaining share
[4] both in the home channel and online. We also took meaningful actions to protect our performance, ending the year with strong free cash flow
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4.36pm on Feb 1, 2021
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By Lucy Battersby
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China s demand for one particular export has doubled in just one year despite a series of trade threats.
The Communist power s sanctions against Australia for perceived slights has failed to dent the finances of The a2 Milk Company, which is listed on the Australian share market.
Sales of its baby formula effectively doubled to $NZ337.7 million ($A316million) during the last financial year, and a2 has a $A250million aggressive expansion plan to increase its customer base in China.
The Trans-Tasman dairy firm based at Auckland in New Zealand has been exporting its a2 Platinum infant food to China since 2013.
A2 Milk looks to boost Chinese connections with $250m acquisition
A2 Milk looks to boost Chinese connections with $250m acquisition
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Infant formula and milk seller A2 Milk has made a Christmas Eve acquisition of New Zealand dairy company Mataura in a deal it hopes will strengthen its relationships with key state-owned Chinese business partners.
A2 told shareholders on Thursday morning it had entered into a binding agreement to acquire 75 per cent of Mataura Valley Milk (MVM), which produces a number of nutritional and milk powders. The deal had been foreshadowed by A2 which confirmed it had begun discussions in August.