Singapore sovereign wealth fund GIC and a US-based private equity firm will acquire anti-plagiarism software maker iParadigms for
In a joint statement, GIC and
"As a leading global investor, we are enthusiastic about the opportunity to partner with Insight and management to help iParadigms further expand its international footprint,"
Apart from the Turnitin software used by over 24 million students and 1.6 million educators worldwide, iParadigms also provides iThenticate, which verifies the authenticity of content for government and corporate clients.
GIC, named as one of the world's top 10 biggest sovereign wealth funds by US-based
Among its latest investments, GIC in May bought a stake in a Philippine hospital group and Brazilian online sports retailer Netshoes.
GIC said last year that it was adopting a new investment approach which would give it the ability to take short-term risks in order to achieve better long-term gains.
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