eBUS: the latest NZ tech firm in offshore buyout
Local company eBUS, which offers a cloud-based TV ad delivery system, is the latest in a string to be bought up by an overseas firm.
A finalist in the 2011 Innovators Awards, and backed by incubator The Icehouse and local investment firms Movac and Sparkbox Ventures, eBUS has been acquired by London-based B2B media logistics operator IMD, which specialises in video advertising.
eBUS' technology enables TV advertisements to be transferred from one location to another in less than 10 minutes and has strong coverage in the Asia-Pacific region, which was one of the things that appealed to IMD.
"eBUS fits amazingly well with IMD in so many ways. It's territorially complementary, it's very focused on TV ad delivery, just like IMD, and we have the same cultural and customer values," said IMD chief executive Simon Cox.
IMD said the deal will give it a "substantial worldwide footprint" in digital television ad delivery.