Al Monro wants about $4 million to fund NextWindow's expansion and research. Photo / Dean Purcell
Al Monro wants about $4 million to fund NextWindow's expansion and research. Photo / Dean Purcell
KEY POINTS:
A small Auckland technology company which supplies touch-screen displays for everything from shopfronts to poker machines has hit the jackpot, winning a multimillion dollar deal with computer giant Hewlett-Packard.
HP has chosen Ponsonby-based NextWindow, rather than global competitors such as 3M, for its new TouchSmart brand of touch-screenPCs.
The TouchSmart PC, dubbed the "kitchen PC", is being marketed as a home communication and scheduling tool with a screen that makes it easy for all members of the family to use.
NextWindow was founded in 2000 and has 24 staff. Chief executive Al Monro said the HP deal would be worth in the high single-digit millions in its first year.
"I'm pleasantly surprised that a company like HP would be prepared to take a punt on a start-up out of New Zealand," he added.
"I guess it says a lot about the innovativeness of our technology."
The company has engaged a specialist micro-electronics contract manufacturer in Thailand to produce the screens being supplied to HP.
Microsoft has promoted the TouchSmart PC as a showcase machine to run its new Vista operating system.
NextWindow, whose private equity shareholders include Auckland-based i-Cap Partners, is now seeking to raise about $4 million to fund expansion and for research and development.
Monro said the company wanted to remain privately owned, so ideally the funding should come from "local, high-net-worth individuals".
"We've now got good customers, good revenues and we're building a track record. I think it's a good growth story."
NextWindow's sales to date had been based on exporting mainly large-screen digital signs to retailers. The HP deal was its breakthrough into the lucrative "volume market".
"Obviously it's a great reference to have and will hopefully help us get the second, third and fourth deals," Munro said.
NextWindow also has its sights on what it believes will be a lucrative global market for the supply of interactive whiteboards: PC-based touch-sensitive teaching and presentation screens.
"The UK Government has mandated the introduction of interactive whiteboards into schools, and we can see that happening globally," Monro said.
"We can supply the touch and annotation technology to interactive whiteboard manufacturers.
"At the moment we're selling into Asia through our partners, but there is huge potential in the United States and Europe."
