Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


emitch Buys New Zealand’s Largest On-Line Agency


emitch Limited has purchased The Internet Bureau, New Zealand’s largest on-line media buying business for the sum of $NZ8.9m ($A7.2m). The consideration will consist of $NZ6.8m ($A5.5m) in cash and 3m shares.

The purchase of The Internet Bureau is expected to add an estimated $NZ20m ($A16.3m) to gross billings of emitch in FY07, and approximately $NZ1.5m ($A1.2m) to profit after tax and be strongly EPS accretive.

The NZ on-line display market is expected to exceed NZ$40m in 2006 (source ACNielsen) of which The Internet Bureau has a market share of over 40 per cent.

emitch CEO Mr Lee Stephens said that “As is the case with Australia, Internet advertising in New Zealand has been experiencing strong compound growth of about 50 per cent. While NZ had lagged somewhat behind some developed countries in on-line advertising share, this was now changing rapidly, partly due to accelerating broadband adoption.

“The Internet Bureau had established a major competitive advantage and strong market position in its market, having placed on-line advertising for over 300 companies on behalf of over 25 of New Zealand’s leading advertising agencies, a number of which have signed exclusive supplier agreements with The Internet Bureau. Following the acquisition, emitch will be the largest online agency in Australia and New Zealand”.

He said that “emitch intends to build on this leadership position by leveraging emitch’s competencies in search advertising, ROI management and electronic direct marketing to further strengthen relationships with agencies, clients and on-line publishers”.

He paid tribute to Mr John Stewart, who had founded The Internet Bureau business in 2000, and said emitch intended to retain the services of The Internet Bureau’s 12 staff. Mr John Schofield, the current Sales Director, will continue in the business and has been appointed General Manager.

emitch Chairman Stuart Simson said The Internet Bureau represents an exciting and first class acquisition for emitch in terms of a very close fit with its core business, its geographical proximity, and the high potential value it offered shareholders.

Mr Simson said that following the purchase emitch will have sufficient cash reserves to fund all known requirements including on-going dividend payments.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news