Accident Compensation Corporation (ACC) has taken a substantial stake in software firm Diligent.
ACC has bought more than one million Diligent shares for $1.4 million, boosting its stake to 6.3%.
Diligent's software helps company boards keep track of their papers using the internet. It generates its income from annual subscriptions.
Shares in Diligent on Wednesday rose 1 cent to $1.26.
