The newly merged entity has confirmed that it has received backing from Pemba Capital Partners, with nine out of 10 Australian organisations expected to employ artificial intelligence over coming years coupled with a projected increase in Defence of 20 per cent over five years.

“Over the past 10 years, we’ve proven ourselves and built a truly fantastic business focused on solving mission critical problems at pace for Defence and other customers,” Ganen Ganeswaran, co-founder and managing director of elmTEK, said.

“The two companies have experienced significant growth in the past decade, and this merger, with the support of Pemba demonstrates a real maturation of Australia’s digital defence sector.

“Our wish has always been to grow a sustainable and resilient business in South Australia, and this merger will allow us to continue on that trajectory.”

It is hoped that merged entity will drive synergies in the advanced technologies market, with Seth Thuraisingham, chief executive officer of Consilium Technology, explaining that the new company would lower costs, improve margins and advance capabilities.

“With growing global uncertainty in national security, food production and other social elements such as rising inflation and COVID-19 impacts, the strengthened capabilities through this merger will provide industries with tools to improve predictability,” Thuraisingham said.

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“Technology like AI and sensors are akin to prediction machines that can deliver competitive advantage against emerging threats in the defence environment, improved yields in agriculture and automated knowledge work in enterprise.

“We’re excited about the competitive advantage that the combined capabilities of elmTEK and Consilium can provide for Australian industry, and the opportunity to grow the export of our Australian-owned intellectual property and products to international markets.”

Chief Defence Scientist Professor Tanya Monro reiterated the importance of ongoing innovation in the defence and technology market, having worked alongside both companies.

“Innovation – to grow and sharpen Defence capability – must deliver advantages for Australia quickly, tangibly and enduringly. It is reassuring to see Australian defence industry taking a leap to support and accelerate the development of disruptive technologies beyond the research and initial demonstration stages, through to commercialisation and expanding our export markets to render broader economic and strategic benefits in the national interest,” Professor Monro said.

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