Stone & Chalk and AustCyber have revealed they are merging in a bid to boost Australia’s industrial capability in critical and emerging technologies. Under the terms of the integration, AustCyber will become a wholly owned subsidiary of Stone & Chalk, retaining its standalone brand, staffing structure and National Network of Cyber Security Innovation Nodes, as well as its role as one of the Australian government’s ‘Industry Growth Centres’.
The merger will make Stone & Chalk’s commercialisation services available to Australian cyber security founders. Meanwhile, Stone & Chalk’s emerging technology founders will have access to support and expertise from AustCyber to ensure they are ‘secure by design’. The merged organisation will give start-ups and scale-ups access to domestic and international customers, new talent and capital.
Discussing the deal, Stone & Chalk’s CEO Alex Scandurra noted that COVID-19 had made it clear that Australia can no longer afford to depend so heavily on imported technology which contains critical dependencies in supply chains.
“In making our two organisations one, we are combining the greatest concentration of cyber security industry expertise in the country with the most developed technology commercialisation infrastructure that Australia has ever built,” he said. “The integration of Stone & Chalk and AustCyber will enable our joint organisation to pursue a resilient and prosperous future not just for founders, enterprise and governments, but for all of Australia.”
AustCyber’s CEO Michelle Price stated her belief that it is in the interest of the country to invest in scalable, innovative means of evolving emerging tech industries. AustCyber has proven its ability to do this for cyber security, she said, and it is therefore critical it applies similar approaches to other emerging technologies.
Meanwhile, Stuart Ayres, NSW minister for jobs, investment, tourism and Western Sydney said the merger will help the state and the nation embrace emerging and critical technologies. The integration will see new jobs and investment for NSW, he said, as well as the rest of Australia, at a crucial time when its economy is still recovering from the pandemic.
“I have long respected the capabilities of Stone & Chalk and know that joining forces will provide our existing ecosystems with the tools they need to evolve, develop and thrive,” he said. “Our government will continue to support the growth of emerging technology and ensure cyber security is built into these new platforms from the ground up. These will be the jobs of tomorrow.”
