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Revera takes on investment, new board member

Revera takes on investment, appoints new board member

Auckland, 25 September 2006 – Computing infrastructure provision and IT services company Revera has taken on an independent investor to support continued growth and further strengthen its board of directors.

Andrew Clements, through his company Zeus Capital, has taken a 12 percent stake in Revera. Clements joins Revera’s board and is the only independent investor. He is the investment manager of Zeus Capital and managing director of Emerald Capital Limited, a Canadian-owned expansion capital equity investor in New Zealand.

Revera CEO Wayne Norrie said Revera is considering a range of acquisitions and recently kicked off a $3 million upgrade that will double the capacity of its Albany data centre and upgrade its sister data centre in Tawa with dedicated blade server facilities and associated power, air conditioning and UPS infrastructure.

“Andrew is a safe pair of hands and brings additional strength and maturity to our board,” Norrie said. “He has an excellent reputation assisting technology growth companies and will help us achieve our five-year goal as a $100 million New Zealand-owned business.”

Revera registered its 160th customer in winning a three-year seven figure contract to provide managed IT systems and services to the Ministry of Transport (MOT). Last month Revera secured a $800,000-to-$900,000 contract to supply computing infrastructure and support services to MoRST.

Clements is also chairman of Fusion Electronics Limited and TVD Holdings Ltd and holds directorships in a number of other listed and private companies, including Ryman Healthcare Limited, New Zealand Experience Limited, and Orion Corporation Limited.

“It is a rare opportunity to sit on the board of a technology company picked as one of New Zealand’s strategically most important,” Clements said. “The business of looking after IT infrastructure has never looked so exciting.”

ENDS

http://www.revera.co.nz

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