Briefcase: Business Snippets from around South Australia
In this week’s Briefcase, a Californian giant buys an Adelaide tech company and MyVenue sells a majority stake. Plus, the latest business events.
- Californian giant buys Adelaide tech company
- SkyCity revises earnings guidance
- MyVenue sells majority stake to US firm
- Adelaide to host Southeast Asian Business Forum
- Uber Eats expands to the regions
- Coopers Dark Ale now available in a can
- SA developments nominated for national awards
Californian giant buys Adelaide tech company
Adelaide’s SAGE Group Holdings has been acquired by Tetra Tech, Inc. – a California-based consulting and engineering firm.
SAGE Group was founded by Andrew Downs in 1994, and established its first workshop two years later.
Downs is expected to share in the deal, reportedly worth $150 million.
The company now has 800 staff spread across two continents and 18 offices and specialises in automation and digitisation.
SAGE managing director Adrian Fahey said the two companies “share complementary expertise, a strong cultural fit, and a shared long-term strategic vision to deliver impactful, future-focused solutions across industrial digitalisation, AI and cybersecurity”.
SkyCity revises earnings guidance
SkyCity says its FY25 group earnings will be around 4 per cent below the bottom of the current guidance range of $225 million to $245 million.
It said visitation was steady across all precincts but spend per visit was down, “making forecasting difficult”.
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Further, Adelaide performance has been impacted by both lower visitation and lower spend by VIP gaming customers due to the uplift in the company’s anti-money laundering and harm minimisation program.
“The difficult market conditions that businesses like ours – which are reliant on discretionary consumer spending – are experiencing continue to have a significant impact on both our revenue and earnings,” SkyCity CEO Jason Walbridge said.
Trade and Investment Minister Joe Szackacs, Her Excellency the Honourable Frances Adamson AC and MyVenue CEO Tim Stollznow. Photo: FrankieTheCreative
MyVenue sells majority stake to US firm
Growth equity firm Greater Sum Ventures has acquired a majority investment in Adelaide-based stadium point-of-sale system MyVenue, founded in 2020 by Tim Stollznow.
The investment provides the company additional capital and specialised resources to accelerate global growth and R&D.
“This investment amplifies our ability to meet the market’s growing needs through advanced technology and support capabilities,” Stollznow said.
“We’re excited by GSV’s confidence and partnership as we extend our next-generation products to more venues globally.”
Adelaide to host Southeast Asian Business Forum
Adelaide will host the Association of Southeast Asian Nations (ASEAN) Business Forum in August, welcoming more than 750 senior delegates.
The event is a platform to advance trade, investment and accelerate growth in the regions and it’s the first time it’s returned to SA since Adelaide was the inaugural host in 2014.
The 2025 event will be held at the Adelaide Convention Centre and Trade Minister Joe Szakacs will be the keynote speaker, along with ASEAN Secretary General Dr Kao Kim Hourn, Australian Chamber of Commerce CEO Andrew McKellar and more.
Szakacs says the Southeast Asia region is set to be the world’s fourth-largest economy by 20240, and a priority region for SA for significant long-term trade and investment opportunities.
“South Australia has the fastest growing economy in the nation and is showing global leadership in the transition to net zero. Not only does that mean we are able to attract events of this calibre, but partners know that we can provide real solutions for their challenges,” he said.
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William Buck 2025 CFO Summit: The summit will address pressing issues facing businesses, like AI and ESG, as well as discuss the state and national economy on May 14 at the Adelaide Oval. AI Day: Digital Adelaide is hosting its first AI Day, dedicated to all things artificial intelligence, at The Drive on May 16. 2025 AEDA Business Summit, South Australian Premier Peter Malinauskas will attend the summit and will be joined by a stellar lineup of business leaders and industry experts on May 20 at the Adelaide Oval. Mastering Marketing: The Australian Marketing Institute is bringing together some of South Australia’s top Chief Marketing Officers for a one-day seminar on May 21 at The Drive. Know Your Business – Essentials and Strategies for Growth: The South Australian Business Chamber is hosting a free session in Loxton designed for regional businesses on 23 May. SA: State Budget Lunch: The Property Council’s State Budget Lunch, a highlight on the organisation’s events calendar, will be held on June 11 at Adelaide Oval. The 3rd Australian Space Cyber Forum: The third Australian Space Cyber Forum comes to the Adelaide Convention Centre on June 23 and June 24, 2025. |
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Uber Eats expands to the regions
Uber Eats has expanded its service to six new regional SA towns, which is expected to generate $45 million in new restaurant revenue and add $19 million to regional gross domestic product.
The food delivery service is now available in Victor Harbour, Port Lincoln, Murray Bridge, Port Pirie, Goolwa, Port Elliot and Port Augusta.
Modelling with Oxford Economics expects the rollout will create over 2500 new delivery partner opportunities and give nearly one million more Australians access to the platform.
Murray Bridge restaurant owner Serg Grohs says partnering with Uber Eats will help his businesses, Bridge Play Café and Bridge Takeaway, reach locals without access to transport.
“There are people in our town who love good food but can’t always make it out to get it. That’s where delivery really helps,” he said.
Coopers Dark Ale now comes in a can. Photo: Supplied
Coopers Dark Ale now available in a can
Coopers Brewery Dark Ale is now available in a 375 millilitre can, joining Cooper’s staples including the original pale ale, sparkling ale and XPA.
Coopers Dark Ale, which was previously only sold in bottles and kegs, is the last remaining permanent Cooper’s beer to be sold in a can.
“More and more fans have been asking for Dark Ale in a can to the point that it’s been our most requested new product development in the past 12 months,” said Coopers’ managing director Michael Shearer.
“Coopers is always keen to hear from our fans and we’re pleased to be able to meet this request, even if it is just for a limited time.”
SA developments nominated for national awards
The Property Council of Australia’s Innovation and Excellence Awards finalists have been announced, with three South Australian-specific projects up for the national titles.
Woodville West’s Believe Place is nominated for best affordable housing development, with ACH Group’s Healthia Residential Care Home nominated for the development innovation award.
Bramwell House is nominated for the best public building or social infrastructure award.
The awards will come to a people’s choice vote, which opens on June 3, followed by the awards gala dinner in September. The full list of finalists is available on the Property Council website.
