Apple's asset-shuffling puts $270m value on PowerbyProxi

Apple's asset-shuffling puts $270m value on PowerbyProxi
Paul McBeth
Multinational tech company Apple valued PowerbyProxi at almost $270 million as it shifted the Kiwi firm's assets to a related US entity, more than nine times what investors put into the wireless power developer. Apple bought PowerbyProxi in 2017 for an undisclosed sum, and while the Overseas Investment Office has remained mum on what the world's biggest technology firm paid, annual accounts filed to the Companies Office show a hefty premium to the book value of PowerbyProxi's platform technology, patents and licences when they were sold to a...

More Services

Hundreds of ECE centres backtracking on pay parity
Policy

Hundreds of ECE centres backtracking on pay parity

96% of daycares have opted into pay parity, but govt funding doesn't match the costs.

Demand pricing may be coming to a movie theatre near you
Markets

Demand pricing may be coming to a movie theatre near you

NZX-listed Vista is rolling out a suite of AI innovations.

Govt 'will consult' on NZ Post review, minister says
Services

Govt 'will consult' on NZ Post review, minister says

The deadline for a review of the postal service is up this month.

Maria Slade 14 Jun 2024
Finance group ELF moves into Aussie PE hands
Infrastructure

Finance group ELF moves into Aussie PE hands

Maui Capital Aqua Fund investors are set to double their initial outlay with the sale.

Victoria Young 04 Jun 2024