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Australia-listed software vendor Nuix has acquired its long-term partner Rampiva for roughly US $4 million.
Headquartered in Phoenix, United States, Rampiva is a workflow automation and job scheduling software supporting Nuix, Reveal-Brainspace and Relativity.
The company is a long-term Nuix technology partner founded in 2016 to meet greater productivity demands for Nuix customers by automating their data processing tasks.
The initial cost of the acquisition is approximately US$2 million in cash and US$2 million in Nuix newly issued shares, payable on financial close.
Up to a further US$3 million in Nuix shares will be issued if Rampiva achieves annual contract value (ACV) growth and cost management milestones in the three years post acquisition.
Financial close is expected in the first quarter of the next financial year, subject to closing conditions.
In a statement to shareholders, Australian Securities Exchange-listed Nuix said it will embed the Rampiva team and technology into its global business.
“This will create a broad range of cross sell and growth opportunities across Nuix and Rampiva customers, strengthening Nuix on-premise revenue, accelerating near-term solution campaigns and creating opportunities to better monetise legal technology data flows,” the company said.
Rampiva has offices in Phoenix, New York City, Toronto and Basel, Switzerland.
Its technology is said to be complementary to the Nuix Engine and the wider software platform, including Nuix Discover, and aligns well with Nuix’s strategic large enterprise market.
Nuix has had a turbulent few years after the Australian Securities and Investments Commission (ASIC) launched – and subsequently dropped – an investigation into the vendor over allegations of insider trading.
Nuix was facing an investigation into whether its primary backer, Macquarie Group, had overstated the company's sales forecasts ahead of its listing, as well as its pre-IPO investor prospectus.
Then, last September, ASIC commenced Federal Court proceedings against Australian software company Nuix for alleged disclosure breaches and misleading or deceptive conduct.
ASIC alleged that directors failed to take reasonable steps to prevent Nuix from making misleading statements and breaching its continuous disclosure obligations.
