San Diego-based private eqity firm JMI Equity and fellow private equity investor Apax Partners said this morning that they have agreed to acquire Paradigm ltd., a developer of software for the oil and gas exploration and production industry. The deal was worth approximately $1 billion in cash. Paradigm provides software used for analysis of drilling and production of oil wells. The companies said that Apax was advised by Bank of America Merrill Lynch and Simmons & Co., and Paradigm was advised by Jeffries & COmpany, Inc., Skadden, Arps, Slate, Meagher & Flom LLP, and PwC. Debt financing for the deal came from UBS and Royal Bank of Canada.
Top NewsMonday, June 11, 2012
JMI, Apax Buys Oil and Gas Software Firm For $1 Billion