Home / Venture  / Done Deal: A collation of recent fundings secured, contracts inked and deals did, for the tl;dr crowd

Done Deal: A collation of recent fundings secured, contracts inked and deals did, for the tl;dr crowd

Auckland-based company BuddyBid have had a good week for business.

The company landed a major deal this week, with a Hillary Clinton PAC called Balance of Power using the app to sell Clinton merchandise. Everything is available from Hillary Clinton action figures to life-sized cardboard cut-outs of the US presidential candidate, along with more conventional fare like T-shirts.

BuddyBid also landed another new major customer: Woolworths Australia.

The giant retailer will initially use BuddyBid to sell product under its “The Wine Market” brand in a promotion starting next week. It will join other clients including Panasonic and Fairfax.

Ken Brickley and Neil Campbell


On Tuesday, ARANZ Geo Limited, a world leader in the interpretation and visualisation of geological data acquired 3point Science – based in Calgary, Canada.

3point Science is a specialist in cloud solutions and highly engaging 3D data visualisation.  It will become an independent ARANZ Geo development team.

ARANZ Geo managing director Shaun Maloney said the purchase would add substantial new capability to the company. “Much of the underlying technology that 3point Science has been involved in is still in the developmental stage and a key focus over the next 12 months will be taking this to market.” 

ARANZ Geo turn complex data into geological understanding, provide timely insight and give decision makers confidence. Solutions allow customers to harness information to extract value, bring meaning and reduce risk.

Shaun Maloney


Victoria University researchers have been awarded nearly $1.2 million in funding to find new and improved antibiotics from previously untapped sources.

The Health Research Council of New Zealand has granted the funding to Dr Jeremy Owen and Professor David Ackerley for their three-year project.

Owen said the project will use DNA sequencing and synthetic biology to discover new drugs. “These techniques allow us to extract new molecules from bacteria that can’t be grown in the laboratory.”

Ackerley said antibiotic resistance was a significant threat. The World Health Organization recently described humanity as being in a race against time to develop antibiotics against multi-drug resistant superbugs.

Jeremy Owen and David Ackerley


Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland. It will continue as a sub-contractor to operate the facility.

This month, Serco sold its 10% per cent stake in SecureFuture to InfraRed Infrastructure, part of London-based InfraRed Capital Partners. The exit is among changes in Serco’s New Zealand business since the London Stock Exchange-listed company lost its management contract for the Mt Eden Corrections facility, leaving it with the 25-year contract to run Wiri, which opened in May last year.

Serco NZ’s revenue doubled to $64 million in 2015 but costs including a $10 million onerous contract provision associated with the Mt Eden contract and a doubling in its wage bill to $40 million led to a loss of about $11 million. 


Done deal!

Done a deal we should know about? Get in contact and we’ll get it out there. 

One of the talented Idealog Team Content Producers made this post happen.

Review overview