Done Deal: Recent fundings secured, contracts inked and deals done, for the tl;dr crowd
Former New Zealand Prime Minister John Key will head ANZ’s Board of Directors beginning this January. Key will replace John Judge, who is retiring.
ANZ Group Chair David Gonski is pretty excited about having the former PM at the helm. “Sir John Key’s strong international career in banking and his understanding of and contacts across the Asia-Pacific – where many Australian and New Zealand companies are increasingly trading – will add great value to the governance of ANZ.”
A graduate of the University of Canterbury, Key started his career in banking and finance in New Zealand before he became a politician. Heading overseas, he became Head of Global Foreign Exchange with Merrill Lynch. He was also made a member of the Foreign Exchange Committee of the Federal Reserve Bank of New York.
Movac has invested in a “smart parking” company.
The investment is in Waikato-based Parking Sense. Founded in 2013, Parking Sense provides smart software solutions to car park operators around the world.
Says Movac partner Mark Stuart: “We were compelled to invest in Parking Sense by the quality of the team and their technology. They have the experience, passion and ambition to grow a successful international company at rapid scale in a space in which they’re experts.”
Terms of the deal were not disclosed.
Apple has purchased Kiwi tech company PowerbyProxi. Though exact figures have not been released, the deal is thought to be worth tens of millions at the minimum, if not more.
Founded by Auckland University student Fady Mishriki, PowerbyProxi develops wireless charging technology.
Large organisations have poured money into PowerbyProxi before. In 2013, Samsung invested $4 million. Movac has also invested in the company.
Xero founder Rod Drury has sold a large number of his shares in the cloud-based accounting software company. Drury is expected to make nearly $95 million from the sale of shares, which he says is consistent with Xero’s global growth aspirations to broaden its investor base.
Drury sold approximately three million shares, but remains Xero’s largest single shareholder. He now has about 17.8 million shares.
ARANZ Geo has changed its name to Seequent. The company claims the name change and rebrand reflects its expansion into a broader range of global industries and markets.
As chief executive Shaun Maloney says; “As the world becomes more complex, there is an even greater need for clarity amongst the noise, to see and manage the challenges of today and tomorrow. We’re building a brand that people can trust, that goes beyond geology and the tech industry. The business and industry issues we collectively face are broad and increasingly complex. Challenges include how we steward scarce resources, economic stability, securing a long term social license to operate, and the economic viability of individual businesses.”