Why we built a technology group instead of a single business

June 3, 2026

Allan Dall

CEO and Group Managing Director, The Glue Group

I am often asked why The Glue Group looks the way it does. A cybersecurity hardware business operating across four markets. An assistive technology retailer. A managed IT services provider. A tech hygiene distributor. A software development subsidiary in Europe. An event ticketing platform. From the outside, it can look like a collection of unrelated bets. From the inside, it has always been a single thesis.

The thesis is this: if you build genuine operational depth - in digital commerce, enterprise deployment, logistics, technology development, and go-to-market execution - you can deploy that depth across multiple categories faster, more cheaply, and with less risk than a single-category business can build it from scratch. The businesses look different. The infrastructure underneath them is largely the same.

Getting to that thesis took time, a pandemic, and a co-founder with an unusually good eye for market timing.

How it started

Year What happened
2016 We started The Glue as an IT consulting firm in Sydney. The original idea was straightforward - a technology services business built on strong relationships and genuine expertise. Customer demand quickly pushed us toward managed IT services, and we followed it.
2018 Andrew Chung, our CPO and co-founder, identified YubiKey as an opportunity before hardware authentication was a mainstream conversation. He proposed Trust Panda - a specialist cybersecurity hardware business built around the Yubico product line. We launched from a single retail location in Northern Sydney. It was, in retrospect, exactly the right call at exactly the right time.
2020 By 2020 we had built real capability in digital commerce, enterprise technology deployment, and international logistics. We revised our strategy deliberately - to grow globally and leverage the depth we had built rather than staying focused on the Australian market alone.
2020 – present The portfolio has grown to six businesses operating across Australia, New Zealand, Europe, and the United States - each deploying the same underlying infrastructure, teams, and operational systems at different points of the technology and assistive technology markets.

COVID was the proof point

I did not set out to build a diversified group because I was worried about economic shocks. I set out to build something useful. But COVID proved, in real time, why the structure works.

When the pandemic hit, businesses that were concentrated in a single geography, a single client segment, or a single funding model faced an existential choice. We were not immune to the disruption - no one was - but the diversity of what we had built meant that when one part of the group faced headwinds, others were more resilient or actively growing. The managed IT services business became more critical as organisations moved to remote work. The cybersecurity business accelerated as enterprise security postures were tested. The digital commerce infrastructure that underpinned everything proved its value.

A diversified business model does not just survive shocks - it learns from them. COVID accelerated our understanding of which capabilities were genuinely differentiated and which markets were most resilient. That learning shaped the strategy we have been executing ever since.

The lesson was not that diversification is good in the abstract. It is that diversification across regions, capability sets, clientbases, and funding models creates a kind of structural resilience that a focused single-business simply cannot replicate. Each dimension of diversity is a partial buffer against a different category of disruption.

The strategic logic

The businesses in The Glue Group portfolio are complementary without being competitive. That distinction matters. We are not running aconglomerate where the subsidiaries happen to sit under the same parent. We are running a group where each business benefits from the others' existence.

When Trust Panda wins an enterprise deployment contract, the fulfilment infrastructure that executes it - the distribution centres inAustralia, New Zealand, Europe, and the United States, the logistics partnerships, the direct-to-employee platform - is shared with every other business in the group. When Assistive Tech builds a new digital capability fornavigating funded purchasing, that capability sits within a digital team thatalso supports Trust Panda, WHOOSH Australia, and our other e-commerce operations. The depth compounds. The overhead does not.

This is the strategic advantage that a well-structured grouphas over a standalone business operating in the same category. We can invest ina capability once and deploy it across multiple revenue streams. We can scaleinto a new market faster because the infrastructure already exists. We can attract and retain specialists who want genuine depth in their craft - becausethe group gives them more to work on than any single business could.

The result is that we can achieve more with fewer people andlower overheads than competitors who are building the same capabilities fromscratch within a single business. That is not an accident of how we grew. It is the point of the structure.

What this means for the people who work here

One of the most common questions I get from candidates considering roles within the group is whether they will be stretched too thin across multiple businesses, or whether they will be siloed into one corner ofit. The honest answer is neither - and both, in the best way.

The group gives people something that most technology businesses cannot: a real opportunity to learn, specialise, and grow without needing to move companies to do it. The breadth of what we work on means there is always a new challenge available. The depth of capability we have built means there is always someone to learn from. And because we are genuinely scaling - across new markets, new businesses, and new capabilities - there is always room to grow into.

You are also never bored. At any given time, the group is running enterprise security deployments across multiple continents, building digital platforms for complex funding environments, launching new market presences, and developing technology for clients across Europe, Asia-Pacific,and the United States. If you want variety alongside genuine depth, this is a difficult environment to replicate elsewhere.

Where we are going

The 2020 strategy revision set us on a path to global scale.We are executing that path. Trust Panda now serves enterprise clients across 50 countries. Our distribution infrastructure spans four continents with operational anchors in Australia, New Zealand, Europe, and the United States.

The next phase is deepening that presence and continuing toadd businesses that extend the group's capability without requiring us torebuild the infrastructure that already exists. The thesis has not changed since 2020. The scale at which we can execute it has.

If you are an investor, a potential partner, or someone considering a role within one of our businesses, I am always open to a direct conversation.

 

AllanDall

CEO andGroup Managing Director, The Glue Group