Singapore Sovereign Wealth Centers on iParadigms LLC With Insight Venture Partners

Increasingly, Asian sovereign wealth funds are centering on technology investments, partnering with private equity firms in the United States on buyout deals. Oakland-based iParadigms LLC, an anti-plagiarism software company, agreed to a transaction to sell to private equity firm Insight Venture Partners and GIC Private Limited, one of Singapore’s sovereign wealth funds, for US$ 752 million. This deal includes debt.

By April 2010, Turnitin was being used by all four major universities in Singapore.

“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,” said Eric Wilmes in a iParadigms press release who is head of the North America Direct Investments Group, at GIC Special Investments. “The company, with its best-in-class education platform, is very well positioned for long-term success.”

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