Nuix Ltd is an Australian technology company that produces investigative analytics and intelligence software for extracting knowledge from

unstructured data Unstructured data (or unstructured information) is information that either does not have a pre-defined data model or is not organized in a pre-defined manner. Unstructured information is typically text-heavy, but may contain data such as dates, num ...

. The applications of the company's technology reportedly include

digital forensics Digital forensics (sometimes known as digital forensic science) is a branch of forensic science encompassing the recovery, investigation, examination and analysis of material found in digital devices, often in relation to mobile devices and co ...

financial crime Financial crime is crime committed against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one's own personal use and benefit. Financial crimes may involve fraud (cheque fraud, credit card fr ...

, insider investigations,

data privacy Information privacy is the relationship between the collection and dissemination of data, technology, the public expectation of privacy, contextual information norms, and the legal and political issues surrounding them. It is also known as data pr ...

data governance Data governance is a term used on both a macro and a micro level. The former is a political concept and forms part of international relations and Internet governance; the latter is a data management concept and forms part of corporate data govern ...

eDiscovery Electronic discovery (also ediscovery or e-discovery) refers to discovery in legal proceedings such as litigation, government investigations, or Freedom of Information Act requests, where the information sought is in electronic format (often refe ...

and

regulatory compliance In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Compliance has traditionally been explained by reference to the deterrence theory, according to which punishing a behavior will decrease the viol ...

. As of December 2020, the company's software was reportedly used by 1000 customers in 79 countries. The company has its headquarters in Sydney, Australia with offices in Asia, Europe, the Middle East and North America.

History

Nuix was founded in 2000 with the goal to make vast quantities of unstructured data easily searchable. From 2006 to 2016, the company grew from just two developers to more than 400 employees. In 2010 Nuix was awarded a five-year contract by the

Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

. In 2014 the company was appointed an Industry Partner of the

International Multilateral Partnership Against Cyber Threats The International Multilateral Partnership Against Cyber Threats (IMPACT) is the first United Nations-backed cybersecurity alliance. Since 2011, IMPACT serves as a key partner of the United Nations' (UN) specialised agency for ICTs – the Inte ...

. In 2017, the Nuix Board of Directors appointed Rod Vawdrey to the position of Chief Executive Officer. In November 2020, the company appointed American lawyer and diplomat

Jeffrey Bleich Jeffrey Laurence BleichRichman, Josh.Obama nominates Piedmont lawyer as ambassador to Australia" ''Oakland Tribune'' September 14, 2009 (; born 1961) is an American lawyer and diplomat from California. A longtime friend of President Barack Obama ...

as its chairman. In December 2020, Nuix listed on the

Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as ...

with an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

that valued the company at A$1.8 billion. In October 2021, the Nuix Board appointed Jonathan Rubinsztein to the position of Group Chief Executive Officer.

Controversy

Following the initial public offering, the

Australian Securities and Investments Commission The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to pro ...

(ASIC) investigated "suspicious revenue forecasts" published in Nuix's prospectus. ASIC concluded its investigation into the forecasts in February 2022 and said it would take no further action. In May 2021, the company reportedly cut ties with former chairman Tony Castagna after it was revealed the

Australian Federal Police The Australian Federal Police (AFP) is the national and principal federal law enforcement agency of the Australian Government with the unique role of investigating crime and protecting the national security of the Commonwealth of Australia. Th ...

were investigating alleged breaches of the

Corporations Act The ''Corporations Act 2001'' (Cth) is an Act of the Parliament of Australia, which sets out the laws dealing with business entities in the Commonwealth of Australia. The company is the Act's primary focus, but other entities, such as partners ...

. In June 2021, the

raided the company's office as part of an investigation "into certain individuals" for alleged insider trading. The company later announced it had terminated Stephen Doyle as CFO "by mutual agreement" and CEO Rod Vawdrey had resigned.

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. 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. In 2016, ''

Süddeutsche Zeitung The ''Süddeutsche Zeitung'' (; ), published in Munich, Bavaria, is one of the largest daily newspapers in Germany. The tone of SZ is mainly described as centre-left, liberal, social-liberal, progressive-liberal, and social-democrat. History ...

'' and the ICIJ also used Nuix's software to analyze the "

Panama Papers The Panama Papers ( es, Papeles de Panamá) are 11.5 million leaked documents (or 2.6 terabytes of data) that were published beginning on April 3, 2016. The papers detail financial and attorney–client information for more than 214,488 ...

". 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.

Ownership

Nuix is a public company listed on the Australian Securities Exchange (). As of 2020, the largest shareholder was

Macquarie Group Macquarie Group Limited () is an Australian global financial services group. Headquartered and listed in Australia (), Macquarie employs more than 17,000 staff in 33 markets, is the world's largest infrastructure asset manager and Australia' ...

with a shareholding of approximately 30%.

Awards and recognition

* In 2009, Nuix won a NSW Australian Technology Showcase (ATS) export award, and NSW Emerging Exporter Award. * In 2012, it won the Information and Communication Technology category of the Australian Export Awards. * In 2015, it won the Premier's NSW Exporter of the Year Award. * In October 2015, the company reported that it had raised more than $250,000 for

Room to Read Room to Read is a global non-profit organization headquartered in San Francisco, California. The organization focuses on working in collaboration with local communities, partner organizations and governments to improve literacy and gender equalit ...

from its philanthropic product Proof Finder. * In 2016, Nuix products won Forensic Product of the Year at the Cyber Security Awards, and innovation awards at the Australian Business Awards * In October 2016, Nuix won the Macquarie Capital Technology Growth Company of the Year at the Australian Growth Company Awards

References

{{reflist

External links

Bloomberg
Computer forensics Digital forensics software Companies based in Sydney Software companies of Australia Software companies established in 2000 Australian companies established in 2000 Companies listed on the Australian Securities Exchange 2020 initial public offerings