New Zealand's VC-backed Phitek Systems sold to US tech player

New Zealand's VC-backed Phitek Systems sold to US tech player

Credit:Pixabay

New Zealand-based audio equipment and technology developer Phitek Systems has been sold to New York-listed Amphenol Corp, providing an exit for a number of domestic VC investors. Phitek’s previous backers include Direct Capital-managed TMT Ventures and Stephen Tindal’s K1W1 investment vehicle.

TMT, which has been invested since 2005, has a direct 27 per cent and a 14 per cent holding shared with the New Zealand Venture Investment Fund. Meanwhile,  K1W1 owns 39 per cent.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter