Hyperfactory boss quietly departs after US buy-out
UPDATE: Derek Handley has left his postion as chief executive of The Hyperfactory, sold to US media giant Meredith in 2010.
Mr Handley, quietly left the company in December.
He told NBR his departure was long-planned.
Mr Handley, who founded mobile advertising creative company The Hyperfactory in Auckland with his brother Geoff, now bills himself as chairman of mobile advertising network company Snakk Media.
He remains chairman of The Hyperfactory, now a division of Meredith.
Hyperfactory boss defends decision to shift jobs to New York
Feb 4, 2011: The Hyperfactory boss Derek Handley has defended his company against a Herald article this morning detailing how around 16 Auckland staff have been given the choice of moving to New York, or losing their jobs.
The company, which creates advertising campaigns for mobile phones and tablets, was founded in Auckland in 2001 by Derek Handley (32) and his brother Geoff (35), and soon expanded to open offices in Manhattan (which became the head office and the Handley's new home), LA, Sydney and various points around Asia.
Clients include Coca-Cola, BlackBerry, L’Oreal, Vodafone, Disney and Kraft; there are around 90 Hyperfactory staff in total.
Last year, US media giant Meredith Corporation completed a two-stage deal to take over The Hyperfactory, for what NBR estimated, from annual reports, to be a deal worth up to $US16 million.
Last month, during a visit to Auckland, Mr Handley told the "23 or 24" staff that 16 roles would no longer be located in Auckland. Staff were offered equivalent positions in New York.
Terms of the deal
This morning, Mr Handley - more used to being a new economy poster boy - lashed out at this morning's media coverage.
Auckland staff were being given a year to decide if they wanted to move, The Hyperfactory boss told NBR.
Asked if relocation costs would be covered, he replied:
"Of course. We are totally covering everything, including sponsoring and paying for the visa (which as you probably know is impossible to get for any Kiwi and alone is around $10,000), relocation of their entire house contents, temporary accomodation for three months, flights for them and family - if they have one - the lot."
"It's the first time in history any Kiwi company has offered to relocate a bunch of people to New York - which I'm sure is a dream come true for many Kiwi's to at least give it a go in the Big Apple," Mr Handley said.