The legal fracas between the majority Macquarie-owned software success story Nuix and its co-founder Eddie Sheehy has potentially profound implications for the nascent Australian tech sector.
At a time when the nation is seeking to attract entrepreneurs and innovators to join Australia’s maturing but fragmented innovation ecosystem, the circumstances that prompted Federal Court action sends an unfortunate and alarming message to the world.
The Australian Financial Review has been reporting Nuix’ steady march toward a $1.5 billion-plus IPO that has included the shocking dilution of the value of an option package owned by Mr Sheehy from an estimated $110 million to a post- share split value of around $1 million........”
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