Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Post Begins Due Diligence On Messagemedia

13 August 2001


New Zealand Post Begins Due Diligence On Messagemedia

New Zealand Post has signed a conditional contract to acquire 80 per cent of MessageMedia NZ Ltd from eVentures NZ Ltd, subject to the satisfactory completion of due diligence.

On completion, the acquisition will take New Zealand Post’s shareholding to 100 per cent, following the purchase of 20 per cent of MessageMedia in September 2000.

New Zealand Post Enterprises Chief Executive, John Allen, said MessageMedia was 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.

“New Zealand Post is committed to developing new communication and distribution capabilities to meet our customers' needs for electronic solutions. MessageMedia’s product offering is a key element of that strategy.”

New Zealand Post will continue to operate MessageMedia as a stand-alone business.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>