Done Deal: A collation of recent fundings secured, contracts inked and deals did, for the tl;dr crowd
?Taranaki rural job management software Agtract has secured investment from high-growth investor Punakaiki Fund. Agtract’s cloud-based software reduces the time it takes for contractors to do management tasks and creating invoices. Founded by brothers Chris and James West, the software is integrated to Xero and can be used on any device. It is currently in trial phase and will be launched on the market in September. Punakaiki Fund’s Chris Humphreys will also be joining the software company’s board of directors.
James West, left, and Chris West of Agtract
One of Australia’s leading science venture capital firms is set to expand operations into New Zealand. Brandon Capital Partners manages the Medical Research Commercialisation Fund, which New Zealand joined in February, enabling New Zealand research organisations to seek investment support for their emerging technologies from the AU$200 million fund. Duncan Mackintosh, a leader in technology commercialisation, has been appointed as investment manager and will lead New Zealand operations.
MediaWorks is importing its new chief executive from across the Tasman. Michael Anderson will take up the role at the head of the broadcaster on August 29. Chairman of Oztam and oOH! Media, and non-executive director of Fairfax Media, Anderson was previously chief executive of Australian commercial radio group Austereo for seven years, where revenue and audience share rose during his tenure. At MediaWorks he’ll succeed David Chalmers, who had been acting as chief executive since former CEO Mark Weldon’s left in May. Chalmers will be taking over chief financial officer of Spark NZ.
Online business management solutions provider MYOB Group Limited has acquired Greentree for $28.5 million. The purchase comes as MYOB enterprise solutions revenue reached AU$41 million in the 2015 fiscal year, up four per cent from the previous fiscal year. The Greentree purchase will allow MYOB to try and further expand into larger enterprise business offerings and apply its marketing and distribution resources to accelerate growth through Greentree.