Highlights

  • Nuix  signs agreement to acquire Paris-based graph analytics company Linkurious.
  • Transaction values Linkurious at up to EUR 20 million, including earnout consideration.
  • Linkurious reported annualised contract value of about EUR 7 million at June 2025.

Nuix Limited (ASX:NXL) has entered into an agreement to acquire Linkurious, a France-based provider of graph-powered analytics and investigation software. The transaction involves the purchase of 100% of the issued share capital of Linkurious SAS, a société par actions simplifiée headquartered in Paris.

Founded in 2013, Linkurious develops technology that enables organisations to visually explore graph data, examine relationships, and investigate alerts. Its software is used to identify patterns within complex datasets across investigations involving large volumes of connected information. Linkurious already operates as a technology partner within the Nuix Neo ecosystem, and the transaction builds on this existing relationship.

Profile of the Target Business

Linkurious serves customers across North America, Europe, and the Asia-Pacific region, including several joint customers with Nuix. As at June 2025, Linkurious generated annualised contract value of approximately EUR 7 million, equivalent to about AUD 12 million based on the disclosed exchange rate. The business recorded positive EBITDA and operating cash flow for the full year ended 31 December 2024.

The integration of Linkurious is intended to combine graph analysis capabilities with Nuix’s existing investigative analytics platforms, expanding product workflows related to knowledge graphs, investigations, and alert-driven use cases.

Transaction Structure and Valuation

Under the agreement, the maximum enterprise value of Linkurious is set at EUR 20 million, or approximately AUD 35.4 million. The consideration is structured in multiple components. This includes an upfront cash payment of EUR 12.5 million at completion, along with EUR 2.5 million payable in Nuix shares that will be held in escrow for 12 months.

In addition, the transaction includes a contingent earnout of up to EUR 5 million over a 24-month period, subject to performance conditions linked to annualised contract value growth and cross-sell outcomes.

Funding and Debt Facilities

The upfront cash requirement of up to AUD 30 million will be funded through a combination of debt and existing cash reserves. This amount includes the upfront consideration, adjustments related to Linkurious’ net cash position, and transaction costs estimated at up to AUD 3.5 million.

Nuix has increased its existing debt facilities to AUD 50 million. The company expects to draw down AUD 20 million from these facilities, with up to AUD 10 million funded from cash on hand. The remaining debt facility is expected to remain largely undrawn following completion.

Timing and Conditions

Completion of the acquisition is targeted for the first quarter of calendar year 2026. The transaction remains subject to customary closing conditions and regulatory approvals, including Foreign Direct Investment approval in France.

Share Price Snapshot
NXL was trading 1.38% higher at AUD 1.825 per share as of 04 December 2025.