Nuix to buy workflow automation software provider Rampiva via $6m deal

Nuix to buy workflow automation software provider Rampiva via $6m deal

Software firm Nuix (ASX: NXL) has today announced a planned acquisition of US-based workflow automation and job scheduling software provider Rampiva in a deal worth $6 million.

Rampiva, a long-term Nuix technology partner founded in 2016 by ‘ethical hacker’ Daniel Boteanu, will receive US$2 million ($3 million) in cash and US$2 million in newly issued NXL shares in exchange for 100 per cent of the company.

Headquartered in Phoenix, Arizona, Rampiva offers a suite of software services for the data sector to automate data processing tasks and meet productivity demands, especially for Nuix customers who can plug into the platform.

Nuix says Rampiva’s tech is complementary to the Nuix Engine and the wider software platform, including Nuix Discover, and aligns well with its strategic large enterprise market. Rampiva also offers a custom-built solution for construction management software platform Aconex, which can collect complete metadata at a rate of 30 GB per hour. 

Beyond the initial $6 million consideration, a further US$3 million (AUD$4.5 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.

“Nuix will embed the Rampiva team and technology into its global business, allowing Rampiva technology capabilities to become available to both existing and new customers,” Nuix said.

“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 deal comes as Nuix is under the microscope of the Australian Securities and Investments Commission (ASIC), which is investigating the acquisition of company shares by NXL CEO Jonathan Rubinsztein in 2022.

ASIC’s investigation concerns the purchase of shares made by Rubinsztein in September of last year - an action that attracted the attention of the Australian Stock Exchange (ASX: ASX) that same month.

At the time, the ASX questioned whether Rubinsztein had sought approval to acquire the shares considering it was later revealed that the company was under consideration as a takeover target by legal software company Reveal. The CEO denied any knowledge of these negotiations. 

Independently of this investigation, ASIC announced it was taking action against Nuix in September last year, alleging continuous disclosure breaches connected to downgraded performance forecasts in 2021.

Get our daily business news

Sign up to our free email news updates.

 
Whitefox Recruitment founder Luke Hemmings making strides as a careers leader
Partner Content
After relocating his Canberra-founded company Whitefox Recruitment to the Gold Coast la...
Whitefox Recruitment
Advertisement

Related Stories

Nuix confirms ASIC investigation into CEO’s acquisition of shares

Nuix confirms ASIC investigation into CEO’s acquisition of shares

Data intelligence software firm Nuix (ASX: NXL) has confirmed that ...

Watchdog sues Nuix alleging breaches of disclosure and directors' duties

Watchdog sues Nuix alleging breaches of disclosure and directors' duties

The Australian Securities and Investments Commission (ASIC) is taki...

Nuix hit with third shareholder class action over prospectus disclosure

Nuix hit with third shareholder class action over prospectus disclosure

A third shareholder class action has been filed against ASX-listed ...

ASIC drops two Nuix investigations, but company not yet off the hook

ASIC drops two Nuix investigations, but company not yet off the hook

ASX listed Nuix (ASX: NXL) today announced the corporate watchdog h...