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Macquarie Prepares Intel Analytics Seller Nuix For $1.5 Billion IPO

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SYDNEY: Australia’s Macquarie Group is getting ready to listing its majority-owned software program supplier Nuix in a deal that will worth the data-analysis program vendor at near $1.5 billion, two sources with data of the plans informed Reuters on Friday.

Macquarie, which owns about 65% of the corporate that has been used to analyse 1000’s of paperwork as a part of high-profile investigations equivalent to Volkswagen’s emissions scandal and the “Panama Papers” instances, is dealing with the method alongside Morgan Stanley, the sources stated.


The folks, who requested to be nameless as a result of they weren’t allowed to talk to the media, stated the corporate was prone to listing earlier than Christmas, however plans relied on market situations and had not been finalised, they stated.

Media representatives for Macquarie and Morgan Stanley declined to remark. Nuix representatives weren’t instantly out there for remark exterior enterprise hours.

A specific group of fund managers have been briefed on the plans, the 2 folks and a 3rd supply stated.

If achieved on the focused valuation vary of between A$1.5 billion ($1.1 billion) and A$2 billion, the itemizing would be the greatest since fintech agency Tyro Payments braved destructive market sentiment late final 12 months following six preliminary public providing (IPO) cancellations.

This 12 months, the coronavirus pandemic has all however frozen giant IPOs within the nation, because the halt in financial exercise led to plummeting revenues and valuations of Australian firms, hurting sentiment and main many to shore up their stability sheets with secondary capital raisings.

Nuix sells software program for cybersecurity danger, compliance and “case discovery”, that helps firms, enforcement authorities and investigators, overview digital information and detect fraud and corruption.

Customers embody American Express Co, Barclays Plc, Amazon.com Inc, WPP Plc, and Unilever Plc, in keeping with its web site.

The firm’s income has grown at over 15% per 12 months within the final two years, to about A$175 million in fiscal 2020, one of many sources stated.

($1 = 1.3674 Australian {dollars})




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