Photo / Jason OxenhamBackers of Auckland-based retail software company Vend say its US$350 million ($455m) sale to a US competitor will be good for New Zealand. And Vend founder Vaughan Fergusson added, "When we started [in 2009] there was essentially just Xero, and they weren't that big. Now there's this whole vibrant ecosystem of hundreds of [NZ tech] companies." "The US listing of RocketLab, the sale of Vend and Seequent offshore shines a spotlight on the NZ capital markets and the lack of depth," Shale said. The sale represents Morgan's third major score after the Trade Me sale and his huge gains via his early Xero stake.

Source: New Zealand Herald March 12, 2021 02:49 UTC