Apax Partners acquires Paradigm

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Despite volatile international market conditions, global private equity firms like Apax continue to eye Australian-based companies and have a high appetite and capacity for large secondary buyouts. Under advice from Corrs Chambers Westgarth, Apax Partners recently made a US $1 billion cash acquisition of Paradigm Software Group.

An Apax-led consortium purchased the global operations of Paradigm, an independent software provider focussed on the oil and gas exploration industry. Their Australian operations include a key research and development facility together with offices in Brisbane and Perth. They have a presence on six continents.