Apax leads $1bn Paradigm buyout

Apax Partners and JMI Equity have agreed to acquire oil & gas software vendor Paradigm from US investment group Fox Paine for around $1bn.

UBS and Royal Bank of Canada provided debt financing for this transaction.

Founded in 1987, Paradigm provides exploration and production software solutions for every stage in the oil and gas E&P process.

The US-based company operates through 30 customer service and technology facilities located in 25 countries.

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