M&A Deal Summary

Advance Publications Acquires Turnitin

On March 6, 2019, Advance Publications acquired internet software and services company Turnitin from Insight Partners and GIC for 1.8B USD

Acquisition Highlights
  • This is Advance Publications’ 1st transaction in the Internet Software and Services sector.
  • This is Advance Publications’ largest (disclosed) transaction.
  • This is Advance Publications’ 5th transaction in the United States.
  • This is Advance Publications’ 1st transaction in California.

M&A Deal Summary
Date 2019-03-06
Target Turnitin
Sector Internet Software and Services
Buyer(s) Advance Publications
Sellers(s) Insight Partners
GIC
Deal Type Add-on Acquisition
Deal Value 1.8B USD
Advisor(s) UBS Investment Bank (Financial)
Goodwin Procter (Legal)

Target

Turnitin

Oakland, California, United States
Turnitin is a provider of academic integrity and writing solutions and supports authentic work across the curriculum. Turnitin provides instructors with the tools to prevent plagiarism, engage students in the writing process, and provide personalized feedback. Turnitin was founded in 1997 and is based in Oakland, California.

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Buyer(S) 1

Buyer

Advance Publications

New York, New York, United States
Category Company
Founded 1922
Sector Publishing
DESCRIPTION

Advance is a diversified, family-owned company that operates and invests in a broad range of media, communications and technology businesses globally. Advance Publications directly or through subsidiaries, owns Condé Nast Publications, American City Business Journals, the Golf Digest Companies, and newspapers in more than twenty-five American cities. Advance Publications' subsidiaries also have extensive interests in cable television, as well as in Internet sites which are related to its print publications. Advance was established in 1922 and is based in New York City.

DEAL STATS #
Overall 6 of 7
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (California) 1 of 1
Country (United States) 5 of 6
Year (2019) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-23 Stage Entertainment BV

Amsterdam, Netherlands

Stage Entertainment BV is a creative developer and producer of over 40 musicals and shows on an annual basis, combined with a portfolio of 20 own theaters. Stage Entertainment BV was founded in 1998 and is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-26 Ironman

Tampa, Florida, United States

Ironman operates a global endurance sports portfolio with more than 230 triathlon, road running, trail running, cycling and mountain biking events across 57 countries. The iconic IRONMAN® Series of events is the largest participation sports platform in the world. Ironman was formed in 1978 and is based in Tampa, Florida.

Buy -

Seller(S) 2

SELLER

Insight Partners

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1995
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 18 of 40
Sector (Internet Software and Services) 5 of 10
Type (Add-on Acquisition) 4 of 10
State (California) 6 of 11
Country (United States) 18 of 33
Year (2019) 2 of 6
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-13 Anaqua

Boston, Massachusetts, United States

Anaqua is a provider of integrated, end-to-end innovation and intellectual property management software (IPMS) solutions. Anaqua was founded in 2004 and is based in Boston, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Bamboo Health

Louisville, Kentucky, United States

Bamboo Health is a healthcare technology solutions company, focused on fostering care collaboration and providing information and actionable insights to facilitate physical and behavioral health across the entire continuum of care. Bamboo Health is based in Louisville, Kentucky.

Sell -
SELLER

GIC

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1981
Size Mega
Type Sector Agnostic
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.

DEAL STATS #
Overall 3 of 11
Sector (Internet Software and Services) 1 of 2
Type (Add-on Acquisition) 1 of 4
State (California) 1 of 1
Country (United States) 1 of 4
Year (2019) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-04 The Ultimate Software Group

Weston, Florida, United States

The Ultimate Software Group, Inc. is a provider of cloud-based human capital management (HCM) solutions. Ultimate delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. The Ultimate Software Group was founded in 1990 and is based in Weston, Florida.

Buy $11.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-04 India Grid Trust

Mumbai, India

India Grid Trust is an infrastructure Investment Trust (“InvIT”) in the power sector. India Grid Trust owns 6 operating projects consisting of 13 transmission lines with 3,361 kms length and 3 substations with 7,000 MVA transformation capacity. India Grid Trust was founded in 2016 and is based in Mumbai, India.

Buy -
Mergr

Product

Company

Legal