Zivo gets new investor

The jobs of around 100 staff who work for the local arm of web development company Zivo appeared more certain yesterday, after an Asian-based group said it was taking management control of Zivo's parent company.

iReality said it was taking a strategic stake in troubled Australian-based internet group LibertyOne.

iReality said its decision to invest in LibertyOne had been spurred by a "firm conviction" that Zivo was the company's key asset.

It also said it would drive LibertyOne's strategy and operations with its operational partner, US-based e-business consulting firm Semtor.

Zivo has around 100 staff in Auckland and Wellington.

LibertyOne built its Zivo operation in New Zealand by buying the web firm Clearview with its 50 staff in August last year, for cash and shares worth around $10 million. It then merged with Australia web firm Zivo.

Zivo's clients include Procter & Gamble, Ericsson, Vodafone, Telstra, Air New Zealand, Hutchison Telecom, the Hong Kong Trade Development Council and several Hong Kong Government departments.