GIC, equity firm acquire iParadigms for US$752m

[SINGAPORE] GIC, together with global private equity firm Insight Venture Partners (IVP), will be acquiring anti-plagiarism solutions provider iParadigms for US$752 million.

The acquisition will accelerate iParadigms' product innovation plans, as well as growth into emerging markets in Asia, Latin America and Africa, The Business Times understands.

GIC and IVP had on Monday reached an agreement to buy the Oakland-based company from its existing majority owner Warburg Pincus, in a deal that will see Warburg Pincus make six times its initial investment in iParadigms in 2008, according to sources.