Microsoft acquires NZ startup GreenButton
GreenButton, a Wellington-based company that was founded in 2006, was today acquired by Microsoft’s Azure team. Although no exact figures have been released, it’s a big win for the startup scene in New Zealand.
Mike Neil, General Manager of Windows Azure, wrote a blog post about the acquisition on MSDN, saying, “Data, combined with incredible computing power, is changing the way we do business every day, and customers from all industries – from science and engineering, to media and finance – are realizing what is possible. Entire genomes are being analyzed to develop new drugs. Financial and insurance models are being built to prevent risk. Immersive entertainment is being brought to life in jaw-dropping ways.
“But for each of these scenarios, these customers need help processing massive amounts of information and running compute-intensive simulations, so they can more simply and easily realize what is possible. To address this critical and growing need, today I’m excited to announce the acquisition of GreenButton.
“GreenButton is a leading provider of integrated on-demand solutions that allow customers to manage compute-intensive workloads in the cloud. These solutions are known in the industry for their ease of use. Using GreenButton’s solutions, applications can be cloud-enabled quickly without recoding existing software – and without a PhD in computer science.”
The acquisition will also indirectly help a lot of new startups in our tech scene, as investors are receiving returns which can be used to fund other entrepreneurs.
“Greenbutton was one of the first ventures AngelHQ investors put money into over four years ago,” said Angel HQ Chairman, Bruno Bordignon.
“We are delighted to celebrate this win, not just for our investors but for the Wellington region, as many of these investors recycle into other opportunities.
“In doing so these investors are not only creating more jobs but tangibly supporting the ambition and aspiration all of us should share for Wellington’s entrepreneurs who are creating ‘value-added’ intellectual property and generating export revenue.” Mr Bordignon added.
AngelHQ currently has 45 members and has invested over $6m into over 30 companies over the last 5 years.
There is no word as to whether or not the majority of the GreenButton team will remain in their Wellington Headquarters on Cuba Street. The company also has an office in California.
UPDATE: The pages on GreenButton’s site have since been removed, apart from a splash page announcing the acquisition.Tags: Acquisitions, Angel HQ, Azure, California, GreenButton, Microsoft, Press Release, Wellington