Waikato-based NetValue Group has bought awardwinning web marketing company WebSpring for an undisclosed amount as part of its plan to become a global digital development group.
The purchase marked the latest acquisition for the group which began with three staff six years ago.
With more than 50 staff NetValue was now one of the New Zealand's largest online design and development groups with a number of internet related commercial interests, NetValue chief executive Graham Gaylard said.
WebSpring extended NetValue's capability to include web and social-media marketing strategies.
NetValue would retain all WebSpring's staff who were the basis of its success to date, Mr Gaylard said.
"The combination of NetValue's capabilities in web development and software development and WebSpring's expertise in online marketing creates the total online business solution," Mr Gaylard said.
"NetValue sees WebSpring's expertise in the area of online marketing and social media as increasingly critical for business."
He said NetValue Group had already acquired several key technology companies including Reel Two which dealt with high-end database development and high-performance computing, Interspeed and SitesOnline which did website development and hosting and accounting and job-costing business Key Software.
General manager Mike Leaver said the company was interested in data storage and data centres and was looking for more companies in the IT and online sector to continue its growth.
WebSpring's former director and general manager, Elisabeth Soffe, said the merger had not been her expected "exit strategy" but the offer had come as the company had outgrown its ability to meet demand.
- Waikato Times