AustCyber to merge with Stone & Chalk

AustCyber and financial technology startup hub Stone & Chalk have agreed to merge to boost Australia’s technology footprint and address gaps in the market exposed by Covid-19.

The pair announced its union in a bid to foster investment and build talent and partnerships, while aiding policy and regulations for critical and emerging tech products and services.

AustCyber CEO Michelle Price said talks with Stone & Chalk began in the second half of last year after the pair recognised their existing partnership agreement could be better served as a full amalgamation.

“One of the key strategies behind the merger also aims to expand Australia’s export potential as the pandemic revealed Australia can’t rely on imported technology,” she told iTnews.

“We’ve got a lot of legacy [technology] within the economy.

“While there was a rapid uplift around digital technologies during the lockdown, the economy is now reeling from seeing just how much legacy has been exposed as a result of that.

“We believe that our scale in coming together will be able to accelerate how organisations across different sectors of the economy to tackle that [legacy] challenge.”

Under the merger, AustCyber will become a wholly-owned subsidiary of Stone & Chalk, though it will retain its own branding, staffing structure and the National Network of Cyber Security Innovation Nodes.

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Source: AustCyber to merge with Stone & Chalk – Strategy – Networking – Software – iTnews