Meredith Corporation, one of America's leading media and marketing companies has taken a strategic stake in The Hyperfactory, an expert mobile marketing company set up by two Kiwi entrepreneurs, Derek and Geoffrey Handley, in 2001.
Chapman Tripp partner Roger Wallis, principal Clinton Lawgun and solicitor Justin De Lille acted for The Hyperfactory on the deal, which saw Meredith Corporation buy 19.9% of the business for an undisclosed sum.
The Hyperfactory specialises in powering businesses and brands through the mobile medium with award winning, innovative and strategically creative initiatives. Its campaigns have won more mobile marketing awards than any agency worldwide.
The company, which employs more than 100 mobile technology and marketing experts, supports and delivers globally through its network of offices in Auckland, Los Angeles, New York, Chicago, Hong Kong, Sydney and Hyderabad, India.
Meredith Corporation (NYSE: MDP) is a 107 year old New York Stock Exchange listed company that reaches over 85 million Americans each month through its roster of well-known media brands including Better Homes and Gardens and Family Circle. One of America’s leading media and marketing companies, Meredith's fiscal 2008 annual revenues were $US1.6 billion.
The Business Bakery LP, managed by 42 BELOW founders Geoff Ross, Grant Baker and Stephen Sinclair, is another key existing Hyperfactory shareholder.
Chapman Tripp partner Roger Wallis, says, “We are very pleased to be able to assist an exciting New Zealand company to secure a strategic investor, which places The Hyperfactory in a strong position to achieve its ambitious growth objectives.”