Macquarie has been grooming it since 2011 when it bought in as a major owner.
To plead naivety is absurd.
It was wanting to list about three years back - probably recognising the technology was already falling behind.
Instead the chairman ended up in jail for nine months for fraud until they got him out on technicalities and because he was old.
Over that issue(?) they sacked the CEO (well he ‘resigned’ ).
He was the man who donated Nuix to unravel the Panama Papers fracas.
From my research he seems to be a decent ‘hands on man’ who had customer respect and had worked the company up for around 15 years (?) from days when it had only three staff.
Not only did they dump him ...they tried to nullify his share options and had to launch Nuix quickly despite the court case around that still pending.
Why did they have to launch so quickly, calling in as much publicity as they could get?
In my view it’s because a few years back they had to buy another company because Nuix tech was falling so far behind.
It was called Ringtail - developed by an Australian and then sold to global major FTI Consulting.
https://www.fticonsulting.com/https://en.wikipedia.org/wiki/FTI_ConsultingNuix acquired the whole package including staff and customers on a three year deal that expires this September.
Will FTI renew the contract ?
I looked and found the Aussie developer of Ringtail (rebranded as Nuix ediscovery) is still working fir FTI and has an exciting new program called Radiance or some such.
Did they launch as soon as they could to huge acclaim knowing they might lose a substantial part of their business come September - yes.
Did they try to shaft the former CEO over options despite his loyal service - yes
Is there a court case pending about this case - yes.
Have they announced exciting new contracts since listing - no
Have they intentionally roped in thousands of mum and dad investors at high prices - yes
Are they all just novices at the public company game?
What do you think ?
Cheers
(20min delay)