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PARADIGM IS SOLD TO APAX AND JMI FOR $1 BILLION

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Sunday, July 15th, 2012

Britain’s Apax Partners in cooperation with Baltimore, Maryland’s JMI Equity has purchased the US-Israeli software company Paradigm for $1 billion.   Paradigm, which employs 700 people, with its R&D centered in Israel, is estimated to have annual revenues of about $200 million, and claims 700 customers in 25 countries around the world, including France’s Total and Russia’s Gazprom. Paradigm’s technology is used to take seismographic data gathered in drillings and turn them into three-dimensional models that enable oil companies to determine the energy potential of areas under exploration. Paradigm also offers technology that processes data gathered from underground sensors