Apax-led Consortium Acquires ‘Paradigm’ For $1B

Apax Partners and JMI Equity have today announced an agreement to acquire Paradigm, an independent software vendor focused on the growing oil and gas exploration & production space, for approximately $1 billion in an all-cash transaction. Paradigm’s software enables engineers to optimize drilling and production decisions through the analysis of vast quantities of seismic and well-log data. Paradigm was founded in 1987 in Israel, and was sold the US private equity firm Fox Paine & Company in 2002. It has offices and a development center in Herzliya Pituah, Israel.