| Decision | Consent Granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 29 May 2023 |
| Pathway(s) | Significant business assets National Interest assessment |
| Investment | Acquisition of 100% of the shares in Pure IP Holdings Limited by BCM One NZ International Limited. |
| Consideration | $156,000,000 |
| Applicant | BCM One NZ International Limited |
| Vendor | Pure IP Holdings Limited New Zealand (59.0%) United Kingdom (39.12%) Various (1.92%) |
| Background | BCM One NZ International Limited was granted consent to acquire 100% of the shares in Pure IP Holdings Limited (the Target). BCM One NZ International Limited is a New Zealand incorporated company within the BCM One group of companies (the BCM One Group). The BCM One Group provides managed technology solutions offering improved connectivity, network management and cloud computing optimisation for businesses. The Target is the holding company of the Pure IP group of companies (the Pure IP Group). The Pure IP Group provides a global cloud and enterprise voice enablement platform. The Target’s business in New Zealand, operated by Pure IP Limited (NZ), provides the voice platform for Kordia. The Applicant is investing into a Strategically Important Business for the purposes of the Overseas Investment Act 2005 and was therefore subject to a national interest assessment. Consent was granted as the Applicant has met the investor test criterion and the Minister of Finance decided that the investment is not contrary to New Zealand’s national interest. |
| More information | Glenn Shewan Bell Gully Level 22, Vero Centre 48 Shortland Street Auckland 1010 |
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