As we’ve said before the InfoTrack guy has a point but to be honest we’re sort of over A type Australian men banging on.. life is too short.
Aus Lawyers Weekly report
The chief executives of InfoTrack and GlobalX have traded blows following the acquisition of the latter by a Canadian-based entity.
On Friday of last week, GlobalX entered into a definitive agreement to be acquired by Canadian cloud-based software and technology solutions provider Dye & Durham for approximately $166 million. The transaction will likely close in the fourth quarter of the current fiscal year, subject to regulatory approval.
The news follows the acquisition of SAI Global’s Property Division in January by the same company, for $91 million.
Reflecting on the two acquisitions, InfoTrack CEO John Ahern released a “critical” statement, questioning the state of the nation’s legal tech industry and noting that, “time and time again, we see Australian technology companies for sale”.
“Australian technology companies prefer to ‘sell-out’ rather than export. This ‘sell-out’ is a fundamental problem for our country as it erodes our long-term export potential and as the intellectual property ownership moves offshore, it stifles future local innovation opportunities,” he posited.
“If we want the Australian economy to thrive, we need to stop the ‘sell-outs’ and start looking to build strong, Australian technology companies that compete in this evolving market and then export rather than sell off, the resulting great innovative products and services to the rest of the world.”
