Skydive takes the plunge in NZ

TANDEM skydive operator SkyDive The Beach is acquiring Skydive Queenstown in New Zealand and raising $19.6m through a share offer.

TANDEM skydive operator Skydive The Beach is plunging into New Zealand with the acquisition of Skydive Queenstown for $NZ17 million ($A15.53 million).

IT is the first offshore foray for the Australian company, which opened in Wollongong, south of Sydney, in 1999 and now operates 16 "drop zones" in NSW, Queensland, Victoria and Western Australia.