Microsoft has purchased the Wellington-based cloud management startup GreenButton. The financial terms of the acquisition deal were not disclosed, according to The Sydney Morning Herald (SMH).
Crown-backed investor New Zealand Venture Investment Fund (NZVIF) said it profited from the sale of GreenButton. NZVIF chief executive officer (CEO) Franceska Banga also said local investors were able to gain a "very healthy return" from the transaction, the report detailed.
Under the terms of the acquisition deal, Microsoft will integrate GreenButton into its public cloud service Azure. This platform gives companies remote access to software to create less infrastructure demand. NASA, Boeing, and Pixar, are among GreenButton's existing clients. The Kiwi startup will continue to operate from Wellington while its 18-person team will become workers of Microsoft, the report detailed.
According to GreenButton, it had already established a long-running relationship with its buyer via the BizSpark program. This initiatives provides early stage companies with free resources, SMH reported.
Join the Conversation