Leading tax technology company, DataTorque has sold a minority stake to Simplicity, New Zealand’s non-profit KiwiSaver and Investment Fund manager’s private equity fund.
Leading law firm, MinterEllisonRuddWatts acted for DataTorque on the sale of the minority stake.
The Wellington-based company is one of New Zealand’s leading technology players for revenue management software, designing and delivering practical solutions enabling effective revenue collection. DataTorque operates in 16 countries around the world, transforming public revenue systems to become more efficient in their tax collection systems.
Technology is a driving force behind continuous improvement and simplifying processes through digitisation and data sharing, with organisations such as DataTorque offering customers with numerous efficiency benefits.
Corporate Partner John Conlan said, “It’s great to see continued interest and investment in New Zealand’s innovative businesses, which is allowing new ideas and opportunities to be developed as market successes. Simplicity’s investment into DataTorque is a perfect example of this.”
On completion of the transaction, DataTorque Nick Steevens CFO said, “It was excellent to work alongside John and the MinterEllisonRuddWatts team to present DataTorque with a fantastic opportunity to expand our smart solution software into new markets.”
The MinterEllisonRuddWatts team advised on all aspects of the transaction from start to completion, and included partners John Conlan and Rodney Craig, and Senior Solicitor Max McMahon.
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