On Air Now

Current Show

The Rush Limbaugh Show   3:00 PM - 6:00 PM

Call The Rush Limbaugh Show at 1-800-282-2882.

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
69° Feels Like: 69°
Wind: SE 12 mph Past 24 hrs - Precip: 0.08”
Current Radar for Zip

Tonight

Partly Cloudy 54°

Tomorrow

Partly Cloudy 77°

Sun Night

Thunderstorms 65°

Alerts

Warburg Pincus seeks buyer for software firm iParadigms: sources

By Soyoung Kim

NEW YORK (Reuters) - Private equity firm Warburg Pincus is looking to sell education software maker iParadigms and has tapped Evercore Partners Inc to assist with the effort, people familiar with the matter said on Monday.

IParadigms, based in Oakland, California, makes Web-based solutions for plagiarism prevention and claims more than 1 million educators use its products to check students' papers for originality and online grading.

The company is estimated to earn around $50 million before interest, tax, depreciation and amortization and may fetch 15 times that amount, or roughly $750 million, some of the people said.

All the people asked not to be named because the process is not public. Representatives for Warburg Pincus declined to comment, while iParadigms and Evercore did not immediately respond to requests for comment.

Warburg Pincus made a controlling investment in the firm in 2008 for an undisclosed amount.

IParadigms was founded by graduate student researchers at University of California Berkeley who created software to monitor the recycling of papers in their undergraduate classes.

Its product offerings, which serve more than 10,000 institutions in 126 countries, include Turnitin for instructors, iThenticate for research professionals, WriteCheck for students and Turnitin for Admissions professionals, according to its website.

(Reporting by Soyoung Kim in New York; Editing by Richard Chang)

Comments