Apax, JMI Put Up $1B For Energy Software Co.

Law360, New York (June 11, 2012, 1:21 PM EDT) -- Private equity firms Apax Partners Holdings Ltd. and JMI Equity Fund LP have teamed up to purchase Paradigm Ltd., a global software company that targets the oil and gas industry, for about $1 billion, the companies announced Monday.

Funds from the two companies will hand over all cash for the world's largest independent software vendor, helping it bulk up its research and development activities. Per the definitive agreement, Apax will lead the consortium as it makes a play to significantly boost its energy sector-related software portfolio,...
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