Insight Venture partners and GIC, Singapore's sovereign wealth fund, acquire Willkie client iParadigms, a California-based anti-plagiarism software company, from majority owner Warburg Pincus.
On June 2, Willkie client iParadigms, creators of Turnitin, announced the company has reached a definitive agreement to be acquired for $752 million by global private equity firm Insight Venture Partners and GIC, Singapore's sovereign wealth fund. Leading private equity firm Warburg Pincus had been majority owner of iParadigms since 2008.
Based in Oakland, Calif., iParadigms is a leading provider of cloud-based educational technologies to prevent plagiarism, verify content and evaluate student learning. Its flagship product, Turnitin, is used by over 24 million students and 1.6 million educators at 10,000 institutions worldwide to improve student outcomes.
The deal was handled partners Robert Langdon, Steven Gartner, Thomas Mark, Jordan Messinger, Christopher Peters, Jeffrey Goldfarb and Francis Buono; special counsel Miriam Bishop and Jonathan Konoff and associates Jacob Kleinman, Veronica Ng, Evan Goodman, Mark Myott, Thomas Spencer, Amir Ghavi, Danielle Clout, Ryan Stott, Robert Larimore, Daniel Philion, Jennifer DiNicola, Joshua Parker and Daniel Bumpus.