Video game publisher Electronic Arts (EA), one of the biggest video game companies in the world behind games such as The Sims and Battlefield, has been sold to a consortium of buyers for US$55 billion (about A$83 billion). It is potentially the largest-ever buyout funded by private equity firms. Not AI, nor mining or banking,… Read more »
Embattled bank ANZ has shut down its venture capital arm, 1835i, just three weeks after cashing in its chips in Airwallex – US$44 million ($A67m) stake sold to the fintech’s founders and executives. The writing was on the wall for the business, which still had 10 companies in its portfolio, when ANZ, under new CEO… Read more »
The research and development tax incentive (R&DTI) is only growing in value and scope, with a new Australian Taxation Office (ATO) transparency report detailing $16.2 billion in claims recorded over the 2022-23 financial year. And for the second year in a row, software giant Atlassian is the nation’s top claimant, reporting more than $220 million in… Read more »
The NSW government has finally confirmed Stone & Chalk as operator of the relocated and rebranded Sydney Startup Hub at Tech Central with Fishburners as anchor partner. The move provides certainty for Fishburners, one of the city’s original startup coworking spaces, which was left marooned at the Startup Hub’s former Wynyard site after the government… Read more »
RecordPoint, an Australian AI and data governance scaleup trusted by regulated enterprises globally, has launched RexCommand, a free tool designed to help businesses tackle one of the fastest-growing risks in tech: shadow AI. With AI adoption soaring, new data from Anagram shows 78% of employees are already using AI tools at work—often without approval. RecordPoint CEO and… Read more »
Bradfield, the site of the new Western Sydney airport, will become a manufacturing hub for space infrastructure such as satellites following a deal between the NSW government and local startup Space Machines Company. Space Machines Company will begin high-value manufacturing projects at the Advanced Manufacturing Readiness Facility’s (AMRF) this year, developing production capability to produce… Read more »
After some quiet weeks of startup raises, we’ve seen some course correction on the funding front over the past few weeks, and the trend is continuing. The last week of September saw $94.4 million raised across the tech, marketing, robotics and fleet spaces. Leading the charge was Morse Micro with $88 million in Series C. Morse Micro:… Read more »
It’s just shy of 20 years since US political satirist Stephen Colbert coined the term ‘truthiness’. He described it as “something that seems like truth – the truth we want to exist”. In corporate circles, there’s a fiscal truthiness where everyone’s wealthy and successful right up until the moment they lodge tax filings with the… Read more »
This month, the Australian-made video game Silksong became one of the most played titles worldwide. Created by Team Cherry, a three-person indie studio in Adelaide, the sequel to 2017’s Hollow Knight shows how small studios can capture global attention. Its success matters not just for its artistry but because it demonstrates why video games are… Read more »
Australian businesses hiring a director of artificial intelligence can expect to pay around $245,000 in compensation, with junior data support workers seeking salaries of $90,000, according to a new tech sector salary guide. However, some non-technical roles can attract salaries in excess of $370,000, showing AI is yet to fully replace the old-fashioned sales executive.… Read more »
One of Sydney’s OG fintechs, 29-year-old Ezypay, will be acquired by US software and payments firm Xplor Technologies. The terms of the deal were not disclosed. Xplor has its own Australian links dating back to Melbourne entrepreneur Mark Woodland, who founded the startup in 2016, then sold it to TSG in 2019. It’s now based… Read more »
Artificial intelligence and automation were the name of the game when it came to startup funding deals this week, with four out of the five startups with new funding embracing AI in some form. Keep reading to find out more about the five local startups that collectively raised more than $340 million, including Firmus, which… Read more »
Atlassian has made a second major acquisition this month, handing over US$1 billion (A$1.5bn) for developer intelligence platform DX. The deal comes just a fortnight after the Australian software giant spent US$610 million (A$935m) in cash on AI browser startup The Browser Company. US-based DX, founded in 2020, helps engineering organisations measure, understand, and improve… Read more »
Fintech entrepreneur and investor Dom Pym and his fintech-focused venture fund Triple Bubble have forged a strategic partnership Commonwealth Bank’s venture-scaling arm x15ventures to support and scale Australia’s financial technology ecosystem. The partnership includes an investment, exploration of new fintech opportunities using x15’s bank-safe venture stack, and the development of a mutual mentorship and talent exchange program… Read more »
NSW has unveiled a new strategy for Sydney’s Tech Central, committing $5m to governance and investment attraction and confirming $38.5m in budget support to scale the precinct’s tech, research and housing mix.
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