M&A advisory services in New Zealand
New Zealand's technology M&A market punches above its weight, with Australian PE, US and European strategic acquirers regularly running diligence on NZ SaaS, agritech, fintech and developer-tooling businesses.
Vend's acquisition by Lightspeed, PushPay's ongoing strategic review and Trade Me's PE exit to Apax are representative of the exit paths available to NZ founders; Halter, Tracksuit and Snowball Effect are among the names attracting current acquirer and secondary interest. New Zealand's absence of a general capital gains tax makes it one of the most founder-friendly exit tax environments in the world.
We advise both bootstrapped and venture-backed New Zealand founders through the full sale process, drawing on a strong network of PE sponsors and strategic acquirers with trans-Tasman and global mandates. Our lean end-to-end process covers KPI-driven preparation, vendor due diligence, information memorandum, buyer process management and term negotiation - with Overseas Investment Act timing and the NZ imputation credit position considered from the outset.
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AustraliaNew Zealand24
New Zealand tech M&A deals in the last 12 months
$11M
New Zealand median tech M&A valuation
1.0x
New Zealand median tech M&A revenue multiple
$23M
New Zealand biggest tech acquisition in the last 12 months
Selling your tech company in New Zealand
New Zealand M&A follows international mid-market conventions with country-specific overlays around the Overseas Investment Act, no capital gains tax for individuals on most share disposals, and ASIC-equivalent (NZ Companies Office) filings.
Completion accounts dominate
NZ private M&A is predominantly completion-accounts based, with detailed working-capital target and adjustment mechanics. Locked-box has limited adoption compared to UK/European norms.
W&I insurance is growing
Warranty & indemnity insurance is increasingly common in NZ deals above roughly NZD 25M. Premiums (around 1-1.5% of cover) typically split between buyer and seller, replacing traditional escrow.
Overseas Investment Act
Consent required from the Overseas Investment Office for transactions involving overseas persons acquiring significant business assets. Adds notification time and conditions to scoped transactions. Most pure-tech deals don't trigger but cross-border tech-plus-land or strategic-tech transactions can.
Capital gains for founders
New Zealand does not have a general capital gains tax - most share disposals by individuals are not taxed. Specific anti-avoidance rules apply (e.g. where shares are acquired with the intent of resale, or for property/share traders). One of the most founder-friendly exit tax regimes globally.
Imputation credits and group structures
NZ's full-imputation tax system allows corporate tax paid to be credited to shareholders on dividend distributions. Group structures and imputation credit balances often shape pre-sale planning and post-sale distribution decisions.
Merger control
Commerce Commission reviews mergers and acquisitions that may substantially lessen competition in a market. Voluntary informal clearance is common practice; mandatory pre-merger notification does not apply. Most tech deals don't require formal review.
Recently acquired tech companies in New Zealand
Biggest M&A recently in New Zealand was a $23M acquisition of Paymark by Cuscal in April 2026.
See all M&A deals in New Zealand| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Apr-26 | Paymark | | - | Cuscal | $23M | 0.5x | |
May-26 | Factor | | Factor applies AI algorithms to generate customized pricing models for power companies serving large customers with intricate demands. | Gentrack Group | $14M | 1.4x | |
Mar-26 | Dexibit | | Dexibit offers collaboration tools with unlimited visualizations and self-service analytics tailored for visitor attractions. Solutions reach telecommunications, retail, healthcare, education, government, and additional sectors. Big data analytics and AI make data accessible to all users. | accesso | $7.1M | - | |
Jul-25 | Discovery New Zealand | | Discovery New Zealand is a Wellington-based media consultancy that licenses premium entertainment content, including iconic TV series and documentaries, to streaming platforms and digital broadcasters across New Zealand and the Pacific. The firm distributes programming from global networks like Discovery Inc., covering genres from lifestyle and adventure to factual series such as Shark Week adaptations. Operating since 1997 as part of the Discovery corporate network, it negotiates rights deals and supports localization for over 20 local broadcasters and OTT services. | Sky Network Television | $0 | - | |
Apr-26 | CLIMsystems | | CLIMsystems is a provider of software solutions, training, and consulting services. | SLR Consulting | - | - | |
Mar-26 | Backchat Media | | Backchat Media is a network of digital consultants. | The Meliora Company | - | - | |
Mar-26 | NZ Clean Energy | | NZ Clean Energy is a developer and constructor focused on sustainable energy projects. | Foresight Gr Hldgs | - | - | |
Mar-26 | ROMS | | ROMS is a platform that distributes ROM files for classic console games such as those from NES, SNES, and PlayStation. | Enlighten Designs | - | - | |
Feb-26 | Flow Software | | Flow Software is a New Zealand-based specialist in middleware and EDI solutions facilitating automated data exchange between enterprise applications. | EXA Capital | - | - | |
Feb-26 | MediBoard | | MediBoard is a New Zealand health media network placing brochures, posters, and digital ads in medical clinics and hospital waiting areas. | Tonic Media Network | - | - | |
Feb-26 | Assurity Consulting | | Assurity Consulting is a New Zealand firm guiding organizations to swiftly deploy essential technology amid rapid market changes. | Aspire Systems | - | - | |
Dec-25 | A | Aeroqual | | New Zealand-based Aeroqual leads sensor-based air quality monitoring with products deployed in over 50 countries, serving clients like Dubai Municipality, Vale, EDF Energy, and Samsung since its founding in 2001. | Industrial Scientific | - | - |
Nov-25 | Innovate Change | | - | Casino RIX | - | - | |
Nov-25 | SpeedCurve | | London-headquartered SpeedCurve is a web performance monitoring service that tracks Core Web Vitals, filmstrip views, and synthetic tests across 200 global locations. Enterprises including Etsy and The Guardian use it to visualize page load times, optimize JavaScript bundles, and benchmark against competitors via real user and lab data. | Embrace | - | - | |
Nov-25 | PowerPilot | | PowerPilot is a Dublin-based provider of AI-enabled LoRaWAN sensors detecting conductor-down events on high-voltage overhead lines. The solution uses machine vision and edge computing to identify faults in real-time, alerting operators via cloud dashboards. Deployed on 10kV to 400kV networks, PowerPilot reduces outage response times from hours to minutes, preventing cascading failures. The system withstands extreme weather and integrates with SCADA for automated rerouting, serving utilities in Europe and North America. | National Narrowband Network Communications | - | - |
Who is buying tech companies in New Zealand?
Fusion5 Australia, EXA Capital and Software Combined are the most active acquirers in New Zealand.
See all acquirers in New Zealand| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Fusion5 Australia | | Fusion5 Australia is a consulting firm delivering Microsoft Dynamics, AI, and enterprise application implementations across Australia and New Zealand. The company provides ERP, CRM, and cloud migration services to mid-market businesses. Headquartered in Sydney, Fusion5 Australia partners with technology vendors to drive digital transformation in retail, manufacturing, and public sectors. | Kordia (IT Services unit)IntegrationWorksGocloud Systems | 3 | |
EXA Capital | | EXA Capital is a private equity firm that acquires and scales vertical market software companies through collaboration with management teams. The firm drives operational improvements and innovation in specialized SaaS sectors, operating from exacapital.co. | Flow SoftwareNomos OneStaffReady+1 | 2 | |
Software Combined | | Software Combined is a UK-based investor acquiring and scaling niche software businesses. The firm purchases established SaaS and on-premise applications, providing operational support and growth capital. Headquartered in London, Software Combined targets verticals like healthcare, manufacturing, and education, integrating acquisitions into a unified portfolio with shared back-office functions. | DbvisitActivateWCC Group B.V.+2 | 2 | |
accesso | | accesso Technology Group PLC is a software company engaged in the development and application of ticketing, mobile, and eCommerce technologies, licensing, and operation of virtual queuing solutions, and providing a personalized experience to customers within the attractions and leisure industry. It operates in segments: the Ticketing and Distribution, Guest Experience, and Professional Services. Its solutions are accesso LoQueue, accesso Passport, accesso Siriuswarem, and accesso ShoWare, which provide solutions for ticketing & admissions, gift cards, kiosks, and eCommerce, box office, call center, and social media sales and others. It has a presence in the UK, other Europe, Australia, the USA, and Canada which drives key revenue, in Central and South America. | Dexibit1RISKVGS+1 | 1 | |
Virtual IT Group | | Virtual IT Group is an Australia-based provider of comprehensive IT management services, including managed networks, cybersecurity, and infrastructure development. Serving SMEs in Sydney and Melbourne, it offers proactive monitoring, cloud migrations, and endpoint security. Founded in 2010, the company maintains 99.9 percent uptime SLAs for clients in finance and retail. | The InstillerySecurity Centric | 1 | |
The Meliora Company | | The Meliora Company is a global advisory and investment firm in technology, media, and telecommunications. | Backchat Media | 1 | |
SLR Consulting | | SLR Consulting is a global environmental consultancy with offices in the UK, Canada, Ireland, and the USA. It advises businesses, regulators, and governments on strategic and site-specific issues including contamination assessment, waste management, and environmental permitting. Founded in 1994 and headquartered in Shrewsbury, UK, SLR supports mining, energy, and infrastructure clients on sustainability compliance and impact mitigation. | CLIMsystemsPlanetricsForte Analytical+1 | 1 | |
Industrial Scientific | | Industrial Scientific is an Oakdale, Pennsylvania-headquartered manufacturer of gas detection instruments and monitoring systems. The company produces portable detectors like the Ventis Pro series and fixed systems such as the MX series for toxic and combustible gases. iNet software enables remote fleet management and predictive maintenance via web dashboards. It serves oil refineries, mining operations, utilities, and chemical plants through distributors in over 75 countries, with offices in Australia, Brazil, Canada, France, Germany, India, and China. | AeroqualSAFER SystemsIntelex | 1 | |
National Narrowband Network Communications | | National Narrowband Network Communications is a Sydney-based IoT network operator founded in 2015. NNNCo delivers a national low-power wide-area network platform for enterprise solutions in agriculture, logistics, manufacturing, utilities, and health across Australia. | PowerPilot | 1 | |
Sky Network Television | | Sky Network Television Ltd is the sole traditional, set-top-box-based pay-TV service operator in New Zealand. It distributes local and overseas content, including sports, to its customers via a digital satellite network. It generates subscription and content revenue from these customers via set-top-boxes. This business is augmented by an advertising-supported free-to-air television channel, Prime. Sky also runs subscription video on demand, or SVOD, streaming businesses Sky Sports Now and Neon, while it began reselling fixed-line fiber broadband access in 2021. | Discovery New ZealandOne New Zealand | 1 |
Public tech companies in New Zealand
Fisher & Paykel is New Zealand's largest publicly listed tech company, with a market cap of $12B.
See all public companies in New Zealand| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
Fisher & Paykel | Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use humidifiers, masks, and related consumables, and the number three player in the at-home treatment of sleep apnea using respiratory devices. Both the hospital and homecare markets for respiratory devices are growing strongly in the developed markets in which Fisher & Paykel has a presence. The company earns 42% of its revenue in the US, 27% in Europe, 21% in Asia-Pacific, and the remaining 10% in emerging markets. Fisher conducts its own R&D and has thousands of patents and pending applications. It manufactures in New Zealand and Mexico and has a multichannel distribution model. | $19.86 | -7.1% | $12B | $12B | 8.4x | ||
Tiger Brokers | UP Fintech Holding Ltd is an online brokerage firm focusing on Chinese investors. Its trading platform enables investors to trade in equities and other financial instruments on multiple exchanges of stocks and other derivatives. The company offers its customers brokerage and value-added services, including trade order placement and execution, margin financing, account management, investor education, community discussion, and customer support. | $5.83 | -28.1% | $1.0B | $335M | 0.5x | ||
Vista Group | Vista Group International Ltd provides software and technology solutions across the global film industry sectors of distribution, exhibition, and the end consumer, moviegoers. The principal activity is the sale, support, and associated development of software for the film industry. The company operates in the vertical cinema/film market in the following reportable segments namely the Cinema segment and Film segment. The company has offices in New Zealand, with additional offices located in Sydney, Cape Town, London, Amsterdam, Beijing, Shanghai, Kuala Lumpur, Los Angeles, and Mexico City. | $1.37 | -36.8% | $327M | $334M | 3.3x | ||
Gentrack Group | Gentrack Group Ltd is engaged in the development, integration, and support of enterprise billing and customer management software solutions for the utility (energy and water) and airport industries. The company operates in two business segments which are Utility Billing Software and Airport Management Software, of which the Utility Billing Software segment generates maximum revenue for the company. Geographically company generates from United Kingdom, also operates from Australia, New Zealand and rest of world. | $2.34 | -70.2% | $263M | $223M | 1.7x | ||
NZX | NZX Ltd facilitates capital raising and securities trading. Its main function is to provide a market for the trading, clearing, and settlement of securities. It also provides market data relating to listed companies and indexes. It operates the New Zealand securities, derivatives, and energy markets, builds and maintains the infrastructure on which it operates, and provides a range of information and data to support market growth and development on a scale. NZX also provides wealth management services for New Zealand advisers via its Wealth Technologies business. Its segments include Markets which generates key revenue, Funds Management, and Wealth Technologies. | $0.789 | -12.5% | $259M | $276M | 3.5x | ||
Sky Network Television | Sky Network Television Ltd is the sole traditional, set-top-box-based pay-TV service operator in New Zealand. It distributes local and overseas content, including sports, to its customers via a digital satellite network. It generates subscription and content revenue from these customers via set-top-boxes. This business is augmented by an advertising-supported free-to-air television channel, Prime. Sky also runs subscription video on demand, or SVOD, streaming businesses Sky Sports Now and Neon, while it began reselling fixed-line fiber broadband access in 2021. | $1.82 | +15.4% | $250M | $232M | 0.5x | ||
Scott Tech | Scott Technology Ltd is a robotics and automation company. It designs and manufactures automated production, robotics, and process machinery. The firm provides products and solutions to the industries such as meat processing; industrial automation and robotics; appliances; mining; and others. Its business segments are New Zealand manufacturing, Australia manufacturing; Rocklabs manufacturing Americas manufacturing; Europe manufacturing; and China manufacturing. Maximum revenue is generated from the Americas manufacturing segment. The group operates in New Zealand, North America, Australia, South America, Asia, Russia and former states, Africa and the Middle East, and Other Europe. | $1.37 | +35.7% | $115M | $141M | - | ||
Serko | Serko Ltd is engaged in the provisioning of computer software solutions for corporate travel. The company's products are Serko Online and Serko Expense which are cloud-based enterprise-grade solutions that help corporates manage their travel and expense programs. Geographically, it derives a majority of its revenue from Australia and also has a presence in New Zealand, the US, India, Singapore, and Others. The company generates revenue from Serko Online, Serko Zeno, Serko Mobile, and Serko Expense technology platforms. | $0.910 | -48.3% | $113M | $77M | 1.1x | ||
EROAD | EROAD Ltd is a New Zealand Based company which is a fully integrated technology, tolling and services provider. It designs and manufactures in-vehicle hardware operates secure payment and merchant gateways and offers web-based value-added services. The company provides electronic on-board units and software as a service to the transport industry. Its products are categorized in RUC Compliance, Health & Safety, and Fleet Management. It operates through four segments: Corporate & Development, North America, Australia, and New Zealand. | $0.587 | -40.2% | $110M | $119M | 1.0x | ||
My Food Bag | My Food Bag Group Ltd operates in the online food delivery market in New Zealand. It delivers bags full of fresh and locally sourced ingredients along with easy-to-follow recipes direct to families across New Zealand. The company drives revenue principally by the volume of bags delivered to customers and the average order value of bags delivered. The company operates in one geographic area, New Zealand. | $0.173 | +28.5% | $43M | $51M | 0.5x | ||
Black Pearl Group | Black Pearl Group Ltd is a data technology company that builds, acquires, and markets data-driven cloud services, consisting of a suite of productivity and demand generation applications for small and medium-sized businesses. The company had two reportable segments based on the company's product subscriptions available during the year: Pearl Diver and Newoldstamp. The company makes the majority of its revenue from subscriptions to Pearl Diver. | $0.381 | -10.6% | $36M | $34M | - | ||
AoFrio | AoFrio Ltd develops Internet of Things (IoT) solutions and manufactures, markets, and sells energy-saving, electronically commutated (EC) motors, connected controllers, and fans. The group is organized into two operating divisions - Motors and IoT. Geographically it is divided into three segments: the Americas, Asia Pacific, & Europe, the Middle East, and Africa, out of which the majority is from America. The Motors segment generates the vast majority of the revenues. | $0.082 | -31.9% | $36M | $43M | - | ||
TradeWindow | Trade Window Holdings Ltd develops and commercializes technology solutions that provide international trade participants with a secure platform and tools to establish trust and trade globally in an efficient manner across interconnected networks. The company's platform Cube connects the commercial, financial, logistics, and government data silos that make up interanational supply chains. | $0.135 | +28.0% | $22M | $22M | - | ||
PaySauce | PaySauce Ltd is a New Zealand-based software company. It is a Software as a Solution (SaaS ) fintech platform providing solutions for people at work. The technology enables small employers to digitally onboard, pay, and manage employees from any device. The platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries, and digital employment contracts. It generates maximum revenue in the form of processing fees, which are the monthly or annual subscription customers pay for PaySauce payroll products. Geographically, the company generates a majority of its revenue from its business within New Zealand. | $0.141 | +45.7% | $20M | $25M | - | ||
Solution Dynamics | Solution Dynamics Ltd is a company engaged in providing customer communications solutions. Its products and services are represented by revenue streams: Digital Printing & Document Handling Services; and Software and Technology, Outsourced services. Services include digital print and mail house processing for mail items like invoices, statements, and promotional materials. Software and Technology develop and markets its software products related to multi-channel marketing communications including digital asset management, communication templates, campaign management, document archiving, document composition, and desktop mail solutions among others. Its outsourced services elements are the post, freight, paper, and envelopes. | $0.346 | -6.2% | $5.1M | $1.0M | - |
Why Flow Partners as your M&A advisor
Access to relevant buyers
We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.
No corporate red tape
We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.
Thorough preparation
KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.
Optimize value, not valuation
Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.
We provide M&A advisory services across New Zealand and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in New Zealand.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've closed sell-side and buy-side transactions across European, US and emerging-market tech.
Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
Recently completed M&A advisory projects
Selected M&A transactions and prior deal experience.
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