Last month, another highflying tech company you probably haven't heard of was sold to offshore buyers.
Over a 25-year period, Auckland-based Serato became one of the world's leading makers of audio software for DJs, engineers and musicians. It was bought by Yokohama-based audio specialist AlphaTheta in a deal likely to have been worth north of $100 million, as it required Overseas Investment Office approval.
Like retail software maker Vend (sold for $455 million) and Seequent, which makes 3D modelling software (sold for $1.46 billion), Serato's exit is testament to the incredible value our tech companies create.
Don't get hung up about ownership changing hands. At least some of the proceeds of those sales, and the expertise behind the companies, will support the next generation of Kiwi startups.
That's what we've seen with the likes of Xero, Trade Me, and Rocket Lab, where cashed-up founders have become serial investors. The question is, how do we create more great startups with the ability to compete globally?
Denne historien er fra August 26, September 1 2023-utgaven av New Zealand Listener.
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Denne historien er fra August 26, September 1 2023-utgaven av New Zealand Listener.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
First-world problem
Harrowing tales of migrants attempting to enter the US highlight the political failure to fully tackle the problem.
Applying intelligence to AI
I call it the 'Terminator Effect', based on the premise that thinking machines took over the world.
Nazism rears its head
Smirky Höcke, with his penchant for waving with a suspiciously straight elbow and an open palm, won't get to be boss of either state.
Staying ahead of the game
Will the brave new world of bipartisanship that seems to be on offer with an Infrastructure Commission come to fruition?
Grasping the nettle
Broccoli is horrible. It smells, when being cooked, like cat pee.
Hangry? Eat breakfast
People who don't break their fast first thing in the morning report the least life satisfaction.
Chemical reaction
Nitrates in processed meats are well known to cause harm, but consumed from plant sources, their effect is quite different.
Me and my guitar
Australian guitarist Karin Schaupp sticks to the familiar for her Dunedin concerts.
Time is on my side
Age does not weary some of our much-loved musicians but what keeps them on the road?
The kids are not alright
Nuanced account details how China's blessed generation has been replaced by one consumed by fear and hopelessness.
