Macquarie Telecom Group will be changing its name to Macquarie Technology Group in recognition of its transition towards a digital infrastructure business.
Macquarie Technology Group CEO David Tudehope told ARN the business had changed significantly in the past decade as its focus has shifted towards cloud, cyber security, data centres and telecommunications.
“We’ve become a digital infrastructure business and it’s a been a long journey that has been very fruitful for our investors. We’ve got a $1.2 billion market capitalisation and a 500 per cent increase in our share price in the past few years, reflecting that transition has been well received,” he said.
The rebranding will only impact the parent company and will come into effect in June, with the MAQ ticker remaining.
The four existing business unit brands will remain intact in Macquarie Government, Macquarie Cloud Services and Macquarie Telecom and Macquarie Data Centres.
Macquarie will hold a shareholder meeting next month to execute the change and will switch from the ‘Diversified Telecom Services’ index to ‘Internet Services and Infrastructure’ to better reflect the industries it works in.
Tudehope touched on the mega trend of customers and their cloud adoption journey as a prime opportunity in the market along with the growth in cyber security.
“We’re the largest Microsoft Azure partner in Australia and its a reflection of our package offerings in all three types of cloud solutions – co-location, private and public cloud,” he said.
“Cyber security is also a growing area of investment and we do a lot of business with the government in cyber security, which is a significant business for us and has grown very strongly as we continue to invest in people and technology.”
One of those customers includes the Australian Taxation Office (ATO), which renewed a major deal with Macquarie Government in January to provide cyber security, sovereign data centre, hyperconverged infrastructure and cloud services.
The deal included using Macquarie’s security operations centre (SOC) and secure internet gateway (SIG) services.