Just back from a few days R&R and I read that NZ network protection provider Esphion has been purchased by an Israeli company, Allot, which paid US$5.5 million. Esphion has been in operation for 7 years or so with a global team developing software to detect and stop computer worms.
Interestingly Andy Lark, one of our best known IT exports, is listed as a director of Esphion, I’m figuring he’s also got a shareholding and will be thus pleased at the acquisition. No8 Ventures owns roughly 50% of Esphion so Jenny Morel will also be celebrating the deal.
Now hopefully the founders will take their new found wealth and develop new businesses in New Zealand.