LONDON – Apax Partners and JMI Equity have agreed to acquire Paradigm Ltd. for $1 billion in cash.
“It is exciting for Paradigm to team up with Apax and JMI,” said Eldad Weiss CEO of Paradigm. “With their backing, Paradigm is ready to further accelerate its top line and market share growth and capitalize on the opportunities its market position and leading technologies present.”
“Paradigm is known as a technologically innovative software company,” said Jason Wright, Tech & Telecom partner at Apax in New York. “Our intention is to continue this innovation and gain market share in a growing market. We believe that the intersection between Energy and Software is an exciting area for investment and is an opportunity we have been monitoring for some time.”