Nuix — the Australian company behind the software used to analyse the data from the Panama Papers scandal — is expected to list on the Australian Securities Exchange for $1 billion next year.
The Australian is reporting that Nuix would aim for a public float in 2017 with Macquarie Capital as an advisor.
WiseTech Global, an Australian software solutions provider for logistics companies, successfully floated on the ASX this week, opening at $3.41, 2% higher than its IPO price of $3.35.
Its share price has closed up more than 10% since it started trading, hitting $3.89 for a market cap of around $AU1.2 billion.
It followed in the footsteps of one of Australia’s most successful tech companies Atlassian, which listed on Wall Street for $US4.4 billion — the largest listing of an Australian technology company on record.
Mark Warburton, a senior managing director at Macquarie Capital told The Australian that new technologies such as the cloud and SaaS had allowed has allowed such companies to disrupt traditional models and accelerate their growth plans.
Nuix was launched in 2000 and now has more than 1500 customers in at least 60 countries, including regulatory agencies, security and law enforcement agencies and tier-one advisory firms and litigation support vendors.
Most recently the software company supplied document processing and investigation technology to the International Consortium of Investigative Journalists (ICIJ) to help them process the 11.5 million documents from Panamanian law firm Mossack Fonseca.
The group’s services have been used in the recent Panama Papers tax investigation.
The Nuix software was used to “process, index, and analyse” the collected data, which was then published as the first set of results on April 4.
The Australian has more.