SolNet staff buy into company

Murray McNae has sold more than half of SolNet, the New Zealand distributor of Sun Microsystems products, but he's sold it to senior SolNet staff and promises 'business as usual'.

Murray McNae has sold more than half of SolNet, the New Zealand distributor of Sun Microsystems products, but he’s sold it to senior SolNet staff and promises “business as usual”.

“For the last few years the management team has been fairly stable ... and as we’ve grown I thought it appropriate to provide a good solid ownership structure,” says McNae, who retains 49% of the company he founded in 1993.

The remaining 51% is divided into three equal lots of 17% each for financial officer Peter Weaver, and the two general managers, John Hanna, who runs the Sun Microsystems side of the business, and Mark Botherway, who is general manager of iSolNet, the e-commerce, Java development and services arm of the company.

"All the shareholders have made a formal, long-term commitment to SolNet and remain focused on growing a healthy, multi-faceted business offering excellent value to our customers and exciting career opportunities for our employees," says McNae in a prepared release following Computerworld’s questions.

“I didn’t necessarily want SolNet to be Murray McNae’s company. It’s more important to show a broad based approach,” says McNae.

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