Attorneys from Goodwin Procter recently advised private equity firm Insight Venture Partners on its announced, definitive agreement to acquire iParadigms, along with GIC, Singapore s sovereign wealth fund, for $752 million. The transaction is expected to close in the third quarter of 2014 and is subject to the waiting period under the HSR Act and customary closing conditions. Additional terms were not disclosed.
iParadigms, based in Oakland, Calif., is a provider of web-based solutions for plagiarism prevention and student feedback. The company s products include Turnitin, used by educators worldwide to check students papers for originality, to enable web-based peer review and for digital grading of student work. iParadigms iThenticate solution provides plagiarism detection in research, publishing government markets. The company s solutions check over 100 million documents annually and are used in 19 languages in over 100 countries. iParadigms was founded in 1999.
Insight Venture Partners is a global venture capital and private equity firm investing in high-growth technology and software companies that drive transformative change in their industries. Founded in 1995, Insight has raised more than $8 billion and invested in more than 200 companies worldwide. Insight is based in New York City.
The Goodwin team advising Insight was led by partner Ilan Nissan and included partners Paul Cicero, Jane Greyf, Milena Tantcheva and Bill Weiss, as well as associates Dan Beauregard, Roman Goldburt, Timothy Hurley and Stuart Loren.