StretchSense, a New Zealand-based wearable sensor manufacturer spun out from University of Auckland, revealed yesterday that it had agreed a call option to be acquired by e-commerce portal StartToday.
StartToday already owns a 39.9% stake in the spinout and would pay $72m for the remaining shares.
The option, which costs $20m, is valid until September 2018 pending regulatory approval from the New Zealand Overseas Investment Office. The agreement values StretchSense at approximately $120m.
StretchSense manufactures soft, malleable sensors to attach…
