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


O2NZ adjusts shareholdings

Press Release
Wellington, 19 October 2005

O2NZ adjusts shareholdings

Neil Butler, acting chairman of O2NZ, has announced that Synergy International Limited has withdrawn from the O2NZ consortium but stated that this would not affect the business going forward. O2NZ is a consortium of New Zealand IT service companies focussed on developing a New Zealand presence it the UK IT outsourcing market.

“We thank Synergy for their support up until now,” said Butler. “Under the shareholders’ agreement, the remaining shareholders will purchase Synergy’s shares. A decision on whether to offer shares to another party will be made in the future.”

Plans for the launch of O2NZ in London are unaffected by Synergy's decision.

"Wax info Ltd., a Cambridge-based client of O2NZ shareholder Black Coffee Software, recently won the UK’s top award for the use of outsourcing by an SME from the National Outsourcing Association,” says Butler. “The Association noted that through Black Coffee, New Zealand was the only specialist offshore destination outside of India to be represented in the awards.”

“Wax info has stated that the quality of the New Zealand development team, combined with New Zealand Government support, has been vital in their ability to deliver a world-class product. That is vindication for O2NZ’s business plan and marketing focus.”

Jim Donovan, Synergy CEO, said that Synergy remains supportive of the efforts by the consortium partners and the Government to mount such a venture. Garth Hamilton, who led the O2NZ initiative whilst at Synergy, is the acting Establishment Manager working for the consortium partners.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Commerce Commission: Appeals Record $2.25m Fine In Vodafone FibreX Case

The Commerce Commission has filed an appeal in the High Court against a record $2.25 million fine imposed on Vodafone NZ Limited (Vodafone) for its offending under the Fair Trading Act during its FibreX advertising campaign. While the sentence imposed in the Auckland District Court on April 14 was the largest-ever fine under the Fair Trading Act, the Commission will argue that it is manifestly inadequate... More>>

All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>

MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>

Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>

DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>

Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>