Tech company Endace back in Kiwi hands, repays $1.9 mln govt funding

Thu, 10 Mar 2016

By Fiona Rotherham March 11 (BusinessDesk) - Endace, which develops technology that measures, monitors and protects high-speed networks, is back in New Zealand hands after a management-led buyout from its American parent Emulex. The firm has also reached a settlement to return $1.9 million of around $13.6 million research and development funding provided in recent years. The loss-making company, which is understood to have laid off 100 people or around two-thirds of its staff late last year, was being asked to make the repayment under...

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