NAG Forms "n2 Group" - A Radical New Technology Group Concept

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Nov 09, 2023, 05:00 ET

OXFORD, England, Nov. 9, 2023 /PRNewswire/ -- NAG, the algorithms and supercomputing company, today announced the formation of the n²Group - a radical and significant shift in how established technology businesses can collectively innovate and achieve sustainable business growth.

n² Group will develop a portfolio of investments into long-term focused, highly technical, established companies, reinvesting profits back into the group while continuing to fund key parts of the scientific and engineering communities. With no outside financial interests, the model ensures that every penny of earnings generated by its constituent businesses is effectively put to work in creating client value, supporting strategic growth, or making an impact in society.

As a key business within the n² Group, NAG will maintain its established brand name and continue its market-leading operations across Energy, Aerospace and Financial Services. NAG's unique value-driven approach is now extended by n² Group to a portfolio business, including new companies that share NAG's mission-based purpose, outlook and values.

Adrian Tate, CEO of n² Group said "Small to medium-sized technology companies are the backbone of our economy, but despite delivering value to clients for years, expanding and innovating can be a challenge for them. Leaders of those companies believe in their mission and are often not interested in private equity or venture capital to fund growth. We've designed n² Group to build critical business support that helps our companies develop as autonomous units within a collaborative group."

Fundamental to the investment strategy of n² Group is that established technology businesses significantly improve their chance of developing impactful future products and services when they collaborate as part of a dynamic collective, with frequent cross-pollination and exchange of ideas. By focusing on the future without unrealistic expectations around short-term growth, n² Group is seeking to create a sustainable community of value generating businesses.

NAG has achieved remarkable client trust and commercial success for over five decades with a unique purpose-driven approach to technology and without the need for outside investment. The n² Group builds on this concept but allows NAG to maintain its identity and strong reputation, continuing to service its core clients in both supercomputing services and numerical algorithms, while n² Group can now help NAG and other businesses achieve long-term client success and sustainable growth.

About NAG

NAG provides industry-leading numerical software and technical services to banking and finance, energy, engineering, and market research, as well as academic and government institutions. World-renowned for the NAG Library – the most rigorous and robust collection of numerical algorithms available – NAG also offers Automatic Differentiation, Machine Learning, and Mathematical Optimization products, as well as world-class technical consultancy across HPC and Cloud HPC, and other areas of numerical computing. Founded more than 50 years ago from a multi-university venture, NAG is headquartered in Oxford, UK with offices in the UK, US, EU, and Asia.

Media inquiries: [email protected], +44 01865 511245
www.nag.com

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SOURCE Numerical Algorithms Group (NAG)