Bulletproof Targeted In NZ Row
Australian cloud services provider Bulletproof is being sued by a New Zealand-based company over claims of loss of earnings following a buyout deal.
Kiwi company Cloud House has lodged a complaint in the NZ High Court, claiming NZ$3.9 million (A$3.6 million) for earnings said to have been lost after it was acquired by Bulletproof earlier this year.
Cloud House alleges that Bulletproof’s business decisions after the acquisition resulted in Cloud House not achieving the earn-out it believes it was entitled to.
Bulletproof has said the claim is without merit and it will vigorously defend the case.
According to a Communications Day report, Bulletproof has also foreshadowed a counter-claim against Cloud House over projections that are said to have been made ahead of the acquisition