Mega mobile sale

The New Zealand-based mobile marketing company Hyperfactory, whose clients include Coca-Cola, BlackBerry, Disney, Kraft, L’Oreal and Vodafone, has been bought by Iowa-based media group Meredith Corporation, publisher of Family Circle and Successful Farming, for an undisclosed sum. Meredith took a 19.9 per cent stake in the company in July last year. Co-founder and chief executive Derek Handley announced it had now bought the remaining 8 per cent. The Hyperfactory was created by brothers Derek and Geoffrey Handley in 21, and they are set to retain leadership of the business under the deal.Derek Handley said selling to Meredith was always part of their vision and showed how competitive New Zealand companies could be on the world stage. “Globally, New Zealand companies are at the cutting edge of the use new technology, and by having the courage to take our ideas and capabilities offshore, we are able to become a significant powerhouse within some of the world’s leading corporations.”