US-listed Kanbay has spun off its local connectivity and security businesses as a new Australian-owned-and-managed integrator called Loop Technology.
Martin Bicknell, former Queensland territory manager at Kanbay, has taken the reins at the new company as general manager.
Bicknell said the connectivity and security businesses had been profitable but weren't core to Kanbay's main financial services integration business.
"You're looking at, I guess, about 15 to 20 percent growth in the past financial year," he said. "It was profitable."
Joining Bicknell at Loop Technology would be another 24 Kanbay staff, including sales and pre-sales people. "The good thing for us is that all the [Kanbay] staff have agreed to come across and that was one of the critical things," Bicknell said.
Danny Sargeant, former chief executive Getronics Australia and interim chief executive at ASX-listed Allied Technologies Group, had joined Loop as executive director.
Bicknell said Loop planned to do further hiring in the near future, aiming for an approximate final headcount of about 30. New South Wales and Queensland were earmarked for a sales boost, he said.
New vendor and partner relationships were also on the cards.
"All the agreements have been transferred across. Our distribution supply lines have all come across and the vendor contracts," he said. "[And] we're definitely talking to a number of [potential new] vendors at the moment in the security space."
Bicknell said the spinoff would let the new entity concentrate on its security and connectivity opportunities.
"We'll be more versatile and move a lot quicker because we're not tied to the US any more," he said.
As for Loop Technology's new headquarters, the company had yet to make a decision. With a chief financial officer in Sydney, Bicknell in Brisbane and having been traditionally located in Melbourne, the new integrator had strong ties across Australia, Bicknell said.
Kanbay's security and connectivity arm -- which only existed in Australia -- had been formed when the US company bought Melbourne-based Megatech in 1981. Many staff had been with the company since that time, Bicknell said.
Loop Technology would specialise in products and services targeting information security, threat management, content management, identity management and remote access. It has partnerships with vendors such as RSA Security, Aventail, Clearswift, iPass, WRQ, Check Point, McAfee, f5 Networks, Sophos and Nokia.