IVP and GIC Turn It In to Warburg Pincus for $752M
June 04, 2014
Insight Venture Partners and GIC have agreed to purchase iParadigms, the creator of Turnitin, from Warburg Pincus for $752 million. Helping educators worldwide to check students' papers for originality, grade and peer review online, Turnitin is used at 10,000 institutions to improve student outcomes. iParadigms' other products include iThenticate, a content verification service for research, corporate and government markets. Warburg Pincus bought iParadigms in 2008.
The deal promises to be one of the biggest in the educational software space, eclipsed by only a few, such as Renaissance Learning's $1.1 billion acquisition by Hellman & Friedman and Google Capital in April.