THE HANDLEY BROTHERS, DEREK & Geoffrey, have sold The Hyperfactory, the global mobile marketing company they founded in NZ in 2001, to US media & marketing giant, Meredith Corporation.



The sale, which was announced in an embargoed press release from Network PR on Tuesday, came 12 months after Meredith took a 20% strategic stake in The Hyperfactory.



The sale price was not disclosed but Derek Handley said the deal “sets a significant benchmark for the sale of a NZ business in the emerging technologies sector”. In other words, tens of millions.

That's Derek Handley below, and below that a shot of Derek & Geoffrey (on the right).









Meredith is a major content provider in print, television, online, mobile and video, and describes itself as “the leading media and marketing company serving American women”. It owns a slew of US magazines, including Better Homes & Gardens, Parents, Ladies’ Home Journal, Family Circle, American Baby and Fitness, plus TV stations.



Meredith plans to retain The Hyperfactory’s network of offices in Auckland, LA, New York, Chicago, Hong Kong, Sydney and Hyderabad. It’s understood there will be no redundancies, and the Handleys will stay with the company, at least in the short term.



We’ve emailed Geoffrey Handley for more details.