Nuix

Last updated

Nuix Ltd
Company type Public
ASX:  NXL
Industry Software
Founded Sydney, Australia (Incorporated 2005 (Incorporated 2005))
FounderTony Castagna [1] David Sitsky [2]
Headquarters
Sydney
,
Australia
Area served
79 countries [3]
Key people
Jonathan Rubinsztein CEO [4]
Number of employees
420 approximately [5]  (2020)
Website nuix.com

Nuix Ltd is an Australian technology company that produces investigative analytics and intelligence software for extracting knowledge from unstructured data. The applications of the company's technology reportedly include digital forensics, financial crime, insider investigations, data privacy, data governance, eDiscovery and regulatory 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.

Contents

History

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 the Securities and Exchange Commission. [10] In 2014 the company was appointed an Industry Partner of the International 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 diplomat Jeffrey Bleich as its chairman. [13] In December 2020, Nuix listed on the Australian Securities Exchange with an initial public offering that 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

Nuix is a public company listed on the Australian Securities Exchange (ASX :  NXL). As of 2020, the largest shareholder was Macquarie Group with a shareholding of approximately 30%. [3]

Regulatory investigations

Following the initial public offering, the Australian 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 the Australian Federal Police were investigating alleged breaches of the Corporations Act. [18]

In June 2021, the Australian Federal Police raided 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

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 the International Consortium of Investigative Journalists (ICIJ), who used Nuix to investigate the Offshore Leaks data. [21] In 2016, Süddeutsche Zeitung and 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

Related Research Articles

Healthscope is a for-profit Australian company which operates private hospitals and medical centres, as well as a number of psychiatric and rehabilitation hospitals. The company is headquartered on St Kilda Road, Melbourne.

Clayton Utz is an Australian law firm headquartered in Sydney. Established in 1833, it is a large-sized firm, known as one of the "Big Six" Australian law firms. The firm is recognised for its litigation practice, government clients, pro bono services and high-profile alumni. In 2013, the firm had an annual revenue of $436 million. As of 2021 it had 179 partners and 1,600 personnel in six offices.

<span class="mw-page-title-main">Crown Resorts</span> Australian gambling and hospitality company

Crown Resorts Limited is an Australian gaming and entertainment group that owns and operates various entertainment complexes, including Crown Melbourne, Crown Perth and Crown Sydney. It was listed on the Australian Securities Exchange until purchased by Blackstone in June 2022.

TechnologyOne Limited is an Australian enterprise software company founded in 1987. The company is headquartered in Fortitude Valley in Brisbane, Australia, with other offices in United Kingdom (UK), New Zealand, South Pacific and Asia. It is listed on the Australian Securities Exchange with the symbol TNE and is a constituent of the ASX 200 index.

Macquarie Technology Group Limited is an Australian cloud, data centre, government cyber security and telecom company, with offices in Sydney, Melbourne, Canberra, Brisbane and Perth. It owns and operates five data centers in Sydney and Canberra.

<span class="mw-page-title-main">CyberArk</span> Israeli software company

CyberArk Software Ltd. is an Israeli publicly traded information security company offering identity management. The company's technology is utilized primarily in the financial services, energy, retail, healthcare and government markets. CyberArk is headquartered in Petach-Tikva. The company also has offices throughout the Americas, EMEA, Asia Pacific and Japan.

Trellix is a privately held cybersecurity company that was founded in 2022. It has been involved in the detection and prevention of major cybersecurity attacks. It provides hardware, software, and services to investigate cybersecurity attacks, protect against malicious software, and analyze IT security risks.

<span class="mw-page-title-main">Xero (company)</span> Accounting software company

Xero is a New Zealand–based technology company that provides cloud-based accounting software for small businesses. The company has offices in New Zealand, Australia, the United Kingdom, the United States, Canada, South Africa and Singapore. Xero's products are based on the software-as-a-service model and sold by subscription, based on the type and number of entities managed by the subscriber. The products are used in over 180 countries.

Secureworks Inc. is an American cybersecurity company. The company has approximately 4,000 customers in more than 50 countries, ranging from Fortune 100 companies to mid-sized businesses in a variety of industries.

The International Consortium of Investigative Journalists, Inc. (ICIJ), is an independent global network of 280 investigative journalists and over 140 media organizations spanning more than 100 countries. It is based in Washington, D.C., with personnel in Australia, France, Spain, Hungary, Serbia, Belgium and Ireland.

Catcha Group is an international Internet group founded by entrepreneur Patrick Grove. The Group controls a number of publicly listed and private media, new media, online classifieds and e-commerce businesses, and is one of the largest investors in the digital sector in emerging markets, notably ASEAN. Catcha Group and its related entities have completed over 50 investments either directly or indirectly, as sole, majority or minority shareholders.

Aconex Limited was an ASX 200 listed public Australian company providing mobile and web-based collaboration technologies for project information and process management, on a software as a service (SaaS) basis, to clients in the construction, infrastructure, power, mining, and oil and gas sectors.

<span class="mw-page-title-main">Booktopia</span> Australian online bookstore

Booktopia Group Ltd is an Australian online bookseller founded in 2004 in Sydney. The company also owns Angus & Robertson, a major Australian online bookseller, publisher, and printer. In July 2024, the company was placed in voluntary administration, before being bought in August 2024 by digiDirect.

<span class="mw-page-title-main">Panama Papers</span> 2016 document leak scandal

The Panama Papers are 11.5 million leaked documents that were published beginning on April 3, 2016. The papers detail financial and attorney–client information for more than 214,488 offshore entities. The documents, some dating back to the 1970s, were created by, and taken from, former Panamanian offshore law firm and corporate service provider Mossack Fonseca, and compiled with similar leaks into a searchable database.

<span class="mw-page-title-main">Temple & Webster</span> Australian furniture and homeware retailer

Temple & Webster is an Australian homewares and furniture retailer. The brand was founded in 2011, and listed on the ASX as Temple & Webster Group (TPW) in December 2015. The float followed the acquisition of two other businesses, the Australian operation of Wayfair and Milan Direct. In 2022, the company launched The Build, an online store for home improvement products.

Linkurious is a software company specialized in graph-based technology for various use cases such as financial crime, intelligence, cybersecurity, supply chain management or data governance.

Cathie Reid AM is an Australian businesswoman who was inducted into the Australian Businesswomen's Hall of Fame in 2015 and included in the Australian Financial Review Top 100 Women of Influence. In June 2019, Reid was honoured with a Member of the Order of Australia (AM) for her significant service to healthcare delivery and philanthropy.

<span class="mw-page-title-main">James Spenceley</span> Prominent Australian investor

James Roland Travers Spenceley is an Australian investor, entrepreneur, company director and politician. He is the founder of Vocus Communications and an active Venture Capital investor. He is also the Chairman of Airtasker (ASX:ART) and a Non-Executive Director of Kogan.com (ASX:KGN) as well as ASX listed Think Childcare Limited (ASX:TNK).

Appen Limited is a publicly traded data company listed on the Australian Securities Exchange (ASX) under the code APX.

Credible Labs Inc., commonly known as Credible, is a financial technology company headquartered in San Francisco. The company also does business through its subsidiary Credible Operations, Inc. Its online marketplace offers consumers the ability to compare and refinance loans, mortgages, and other financial products from lenders. Credible became a subsidiary of Fox Corporation in 2019. In December 2021, Credible acquired digital insurance platform Young Alfred, adding various kinds of insurance including home, auto, and pet to its platform.

References

  1. ↑ Castanga, Tony (28 May 2021). "Nuix cuts consultancy ties with co-founder".
  2. ↑ Sitsky, David. "David Sitsky - Engineering Founder & Chief Scientist at Nuix". THE ORG.
  3. 1 2 3 "Macquarie to profit as Nuix set for $1.8 billion IPO". Sydney Morning Herald. 15 November 2020. Retrieved 14 December 2020.
  4. 1 2 "Beleaguered Nuix names new CEO following June departures". ARN. 22 October 2021. Retrieved 30 November 2021.
  5. ↑ "Nuix insiders to share in $143.1m cash fortune". Australian Financial Review. 2 November 2020. Retrieved 14 December 2020.
  6. ↑ "Red hot ASX IPOs that you might have missed from last week". The Motley Fool. 7 December 2020. Retrieved 14 December 2020.
  7. ↑ "Nuix mandates a second bank for $1.5b float". Australian Financial Review. 4 August 2020. Retrieved 14 December 2020.
  8. ↑ "Nuix chief Eddie Sheehy dropped out of accountancy. It was the best thing he ever did". Financial Review. 6 May 2016. Retrieved 9 June 2017.
  9. ↑ "IDG Connect – Nuix seeks out digital needles from haystacks". www.idgconnect.com. 28 March 2016. Retrieved 14 December 2020.
  10. ↑ "Nuix on hitting the export jackpot". ZDNet . 5 March 2010. Retrieved 8 September 2010.
  11. ↑ "Nuix and ITU-IMPACT Partner in Building Capacity to Address Global Cyber Threats". 19 March 2014. Archived from the original on 19 May 2014. Retrieved 7 April 2014.
  12. ↑ "Nuix appoints new CEO". 8 May 2017. Retrieved 9 June 2017.
  13. ↑ "Nuix's noble role: making sense in a time of confusion". The Australian. Retrieved 14 December 2020.
  14. ↑ "'Take the champagne and celebrate': Soaring Nuix caps off post-pandemic IPO frenzy". Sydney Morning Herald. 4 December 2020. Retrieved 14 December 2020.
  15. ↑ "ASX holds gains for fourth day of rises, massive stag profit for Nuix". The Australian. Retrieved 14 December 2020.
  16. ↑ "The numbers that spelt trouble for Nuix IPO". afr.com. Australian Financial Review. 2 July 2021. Retrieved 2 July 2021.
  17. ↑ "Nuix says Australia regulator completes pre-IPO investigation". Reuters. 10 February 2022. Retrieved 21 February 2022.
  18. ↑ "Nuix cuts ties with former chairman Castagna". afr.com. Australian Financial Review. 28 May 2021.
  19. 1 2 "Watchdog seeks emergency travel ban on relative of terminated Nuix CFO". smh.com.au. Sydney Morning Herald. 29 June 2021.
  20. ↑ "United States Patent 8,359,365". 20 August 2009. Retrieved 9 June 2017.
  21. ↑ "How ICIJ's Project Team Analyzed the Offshore Files" . Retrieved 4 May 2013. NUIX of Sydney, Australia, and dtSearch of Bethesda, Md. NUIX Pty Ltd provided ICIJ with a limited number of licenses [..] free of charge
  22. ↑ "The Panama Papers: Exposing the Rogue Offshore Finance Industry" . Retrieved 4 April 2016.
  23. ↑ Kaye, Byron (6 April 2016). "Panama Papers: Australian software firm helps join dots". The Sydney Morning Herald. Retrieved 9 June 2017.
  24. ↑ "Investigation software company wins NSW technology export award". business.nsw.gov.au. 22 October 2009. Retrieved 8 September 2010.[ dead link ]
  25. ↑ "NSW Export Awards Winners". exportawards.gov.au. Archived from the original on 18 February 2011. Retrieved 8 September 2010.
  26. ↑ "2012 Australian Export Award Winners". 27 November 2012. Retrieved 14 December 2012.
  27. 1 2 "Proof Finder Reaches $250,000 Milestone, Expands Functionality, Adds Mac OS and Linux Versions". 4 April 2016. Archived from the original on 23 March 2016. Retrieved 4 April 2016.
  28. ↑ "2016 winners – Cyber Security Awards". Cyber Security Awards. Retrieved 9 June 2017.
  29. ↑ "ABA100 Australian Business Awards® - 2016 ABA100 Winners for Software Innovation". www.australianbusinessawards.com.au. Retrieved 9 June 2017.
  30. ↑ "ABA100 Australian Business Awards® - 2016 ABA100 Winners for Technology Innovation". www.australianbusinessawards.com.au. Archived from the original on 9 March 2017. Retrieved 9 June 2017.
  31. ↑ "Australian Growth Company Awards | Deloitte Australia | Corporate Finance, Finance awards". Deloitte Australia. Archived from the original on 13 January 2017. Retrieved 9 June 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.