Well done Steven – Joyce takes Selwyn Pellett to task on Twitter

Following in the footsteps of US President Barack Obama, Economic Development Minister Steven Joyce took to Twitter with his latest comments on policy.

Joyce took aim at ex-Endace CEO Selwyn Pellett after he took the government to task on R&D grants, the same  program from which Endace received $11.1 million in funding.

“I remain unhappy about taxpayers’ previous R&D investment in Endace now being put in the hands of shareholders via the sales process without compensation to taxpayers. It’s an issue that needs addressing in a country strapped for R&D funding.”

The irony of Pellett complaining about tax payer investment in R&D whilst once again benefiting from it, this time as a shareholder, was not lost on Joyce.

Endace was founded in 2001 following the success of research undertaken at Waikato University. Now more than a decade on, the company is set to be sold to California-based Emulex following a $156 million cash offer to takeover the network security company.