MetService pays $3 million for MetOcean stake to gain access to $10 million marine market

Mon, 05 Aug 2013

By Tina Morrison Aug 6 (BusinessDesk) – MetService, the nation’s state-owned weather forecaster, paid $3 million for a 49 percent stake in privately owned New Zealand oceanographic consultancy MetOcean Solutions, giving it a foothold in a market worth more than $10 million. The purchase will allow Wellington-based MetService to expand its research capability and add customised oceanographic forecasting and consultancy expertise to its global offering. For MetOcean, the tie up enables it to expand internationally with an established partner....

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