Nuix
 | |
| Company type | Public |
|---|---|
| ASX:NXL | |
| Industry | Software |
| Founded | Sydney,Australia(Incorporated 2005) |
| Founder | Tony Castagna[1] David Sitsky[2] |
| Headquarters | , |
Area served | 79 countries[3] |
Key people | Jonathan Rubinsztein CEO[4] |
Number of employees | 420 approximately[5](2020) |
| Website | nuix |
Nuix Ltdis an Australian technology company that produces investigative analytics and intelligence software for extracting knowledge fromunstructured data.The applications of the company's technology reportedly includedigital forensics,financial crime,insider investigations,data privacy,data governance,eDiscoveryandregulatory compliance.[6]As of December 2020, the company's software was reportedly used by 1000 customers in 79 countries.[3]The company has its headquarters in Sydney, Australia, with offices in Asia, Europe, the Middle East and North America.
History
[edit]Nuix was incorporated in 2005 with the goal to make vast quantities of unstructured data easily searchable.[7]From 2006 to 2016, the company grew from just two developers to more than 400 employees.[8][9]
In 2010 Nuix was awarded a five-year contract by theSecurities and Exchange Commission.[10]In 2014 the company was appointed an Industry Partner of theInternational Multilateral Partnership Against Cyber Threats.[11]In 2017, the Nuix Board of Directors appointed Rod Vawdrey to the position of Chief Executive Officer.[12]In November 2020, the company appointed American lawyer and diplomatJeffrey Bleichas its chairman.[13]In December 2020, Nuix listed on theAustralian Securities Exchangewith aninitial public offeringthat valued the company at A$1.8 billion.[14][15]In October 2021, the Nuix Board appointed Jonathan Rubinsztein to the position of Group Chief Executive Officer.[4]
Ownership
[edit]Nuix is a public company listed on the Australian Securities Exchange (ASX:NXL). As of 2020, the largest shareholder wasMacquarie Groupwith a shareholding of approximately 30%.[3]
Regulatory investigations
[edit]Following the initial public offering, theAustralian Securities and Investments Commission(ASIC) investigated "suspicious revenue forecasts" published in Nuix's prospectus.[16]ASIC concluded its investigation into the forecasts in February 2022 and said it would take no further action.[17]In May 2021, the company reportedly cut ties with former chairman Tony Castagna after it was revealed theAustralian Federal Policewere investigating alleged breaches of theCorporations Act.[18]
In June 2021, theAustralian Federal Policeraided the company's office as part of an investigation "into certain individuals" for alleged insider trading.[19]The company later announced it had terminated Stephen Doyle as CFO "by mutual agreement" and CEO Rod Vawdrey had resigned.[19]
Technology and uses
[edit]Nuix markets software for eDiscovery, digital forensic investigation, security, intelligence, governance, risk and compliance based on the Nuix Engine. The Nuix Engine combines load balancing, fault tolerance and processing technologies to "provide insights from large volumes of unstructured, semi-structured and structured data". Several features of the Nuix Engine were granted a patent in 2011.[20]
In 2013, Nuix provided a limited number of free software licences to theInternational Consortium of Investigative Journalists (ICIJ),who used Nuix to investigate theOffshore Leaksdata.[21]In 2016,Süddeutsche Zeitungand the ICIJ also used Nuix's software to analyze the "Panama Papers".[22]Using the software, the Panama Papers investigation team made 2.6 terabytes of scanned documents text-searchable and extracted metadata that helped journalists cross-reference people, places and business entities across these documents.[23]
Awards and recognition
[edit]- In 2009, Nuix won a NSW Australian Technology Showcase (ATS) export award,[24]and NSW Emerging Exporter Award.[25]
- In 2012, it won the Information and Communication Technology category of the Australian Export Awards.[26]
- In 2015, it won the Premier's NSW Exporter of the Year Award.[27]
- In October 2015, the company reported that it had raised more than $250,000 forRoom to Readfrom its philanthropic product Proof Finder.[27]
- In 2016, Nuix products won Forensic Product of the Year at the Cyber Security Awards,[28]and innovation awards at the Australian Business Awards[29][30]
- In October 2016, Nuix won the Macquarie Capital Technology Growth Company of the Year at the Australian Growth Company Awards[31]
References
[edit]- ^Castanga, Tony."Nuix cuts consultancy ties with co-founder".
- ^Sitsky, David."David Sitsky - Engineering Founder & Chief Scientist at Nuix".THE ORG.
- ^abc"Macquarie to profit as Nuix set for $1.8 billion IPO".Sydney Morning Herald.15 November 2020.Retrieved14 December2020.
- ^ab"Beleaguered Nuix names new CEO following June departures".ARN.22 October 2021.Retrieved30 November2021.
- ^"Nuix insiders to share in $143.1m cash fortune".Australian Financial Review.2 November 2020.Retrieved14 December2020.
- ^"Red hot ASX IPOs that you might have missed from last week".The Motley Fool.7 December 2020.Retrieved14 December2020.
- ^"Nuix mandates a second bank for $1.5b float".Australian Financial Review.4 August 2020.Retrieved14 December2020.
- ^"Nuix chief Eddie Sheehy dropped out of accountancy. It was the best thing he ever did".Financial Review.6 May 2016.Retrieved9 June2017.
- ^"IDG Connect – Nuix seeks out digital needles from haystacks".idgconnect.28 March 2016.Retrieved14 December2020.
- ^"Nuix on hitting the export jackpot".ZDNet.5 March 2010.Retrieved8 September2010.
- ^"Nuix and ITU-IMPACT Partner in Building Capacity to Address Global Cyber Threats".19 March 2014. Archived fromthe originalon 19 May 2014.Retrieved7 April2014.
- ^"Nuix appoints new CEO".8 May 2017.Retrieved9 June2017.
- ^"Nuix's noble role: making sense in a time of confusion".The Australian.Retrieved14 December2020.
- ^"'Take the champagne and celebrate': Soaring Nuix caps off post-pandemic IPO frenzy ".Sydney Morning Herald.4 December 2020.Retrieved14 December2020.
- ^"ASX holds gains for fourth day of rises, massive stag profit for Nuix".The Australian.Retrieved14 December2020.
- ^"The numbers that spelt trouble for Nuix IPO".afr.Australian Financial Review. 2 July 2021.Retrieved2 July2021.
- ^"Nuix says Australia regulator completes pre-IPO investigation".Reuters. 10 February 2022.Retrieved21 February2022.
- ^"Nuix cuts ties with former chairman Castagna".afr.Australian Financial Review. 28 May 2021.
- ^ab"Watchdog seeks emergency travel ban on relative of terminated Nuix CFO".smh.au.Sydney Morning Herald. 29 June 2021.
- ^"United States Patent 8,359,365".20 August 2009.Retrieved9 June2017.
- ^"How ICIJ's Project Team Analyzed the Offshore Files".Retrieved4 May2013.
NUIX of Sydney, Australia, and dtSearch of Bethesda, Md. NUIX Pty Ltd provided ICIJ with a limited number of licenses [..] free of charge
- ^"The Panama Papers: Exposing the Rogue Offshore Finance Industry".Retrieved4 April2016.
- ^Kaye, Byron (6 April 2016)."Panama Papers: Australian software firm helps join dots".The Sydney Morning Herald.Retrieved9 June2017.
- ^"Investigation software company wins NSW technology export award".business.nsw.gov.au.22 October 2009.Retrieved8 September2010.[dead link]
- ^"NSW Export Awards Winners".exportawards.gov.au.Archived fromthe originalon 18 February 2011.Retrieved8 September2010.
- ^"2012 Australian Export Award Winners".27 November 2012.Retrieved14 December2012.
- ^ab"Proof Finder Reaches $250,000 Milestone, Expands Functionality, Adds Mac OS and Linux Versions".4 April 2016. Archived fromthe originalon 23 March 2016.Retrieved4 April2016.
- ^"2016 winners – Cyber Security Awards".Cyber Security Awards.Retrieved9 June2017.
- ^"ABA100 Australian Business Awards® - 2016 ABA100 Winners for Software Innovation".australianbusinessawards.au.Retrieved9 June2017.
- ^"ABA100 Australian Business Awards® - 2016 ABA100 Winners for Technology Innovation".australianbusinessawards.au.Archived fromthe originalon 9 March 2017.Retrieved9 June2017.
- ^"Australian Growth Company Awards | Deloitte Australia | Corporate Finance, Finance awards".Deloitte Australia.Archived fromthe originalon 13 January 2017.Retrieved9 June2017.
