Add-on Acquisition • Software

Turnitin Acquires ExamSoft Worldwide

On October 21, 2020, Turnitin acquired software company ExamSoft Worldwide from Spectrum Equity

Acquisition Context
  • This is Turnitin’s 1st transaction in the Software sector.
  • This is Turnitin’s 3rd transaction in the United States.
  • This is Turnitin’s 1st transaction in Florida.

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M&A Deal Summary

Date October 21, 2020
Target ExamSoft Worldwide
Sector Software
Buyer(s) Turnitin
Sellers(s) Spectrum Equity
Deal Type Add-on Acquisition

Target Company

ExamSoft Worldwide

Boca Raton, Florida, United States
ExamSoft Worldwide, Inc. is a provider of computer-based testing software, designed specifically for high stakes and medium stakes exams. The company provides a highly reliable, turnkey solution to academic institutions and professional certification entities, with unparalleled customer service support. ExamSoft Worldwide was founded in 1998 and is based in Boca Raton, Florida.
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Buyer Overview 1

Buyer

Turnitin

Oakland, California, United States

Category Company
Founded 1997
Sector Internet Software and Services
DESCRIPTION

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.


Deal Context for Buyer #
Overall 3 of 4
Sector: Software 1 of 1
Type: Add-on Acquisition 3 of 4
State: Florida 1 of 1
Country: United States 3 of 3
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-03 Gradescope

Berkeley, California, United States

Gradescope enables instructors to grade paper-based exams, online homework, and programming projects on one platform, with help from artificial intelligence. Gradescope is developing AI to provide learners with instant, high-quality feedback on all types of assignments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-15 Ouriginal

Bromma, Sweden

Ouriginal delivers cutting-edge technology in the field of text-matching and plagiarism prevention. Their software helps enhance the potential of students to think originally, saves time for teachers when evaluating assignments, and assists businesses in preserving their reputation. Ouriginal is based in Bromma, Sweden.

Buy -

Seller Profile 1

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.


Deal Context for Seller #
Overall 58 of 77
Sector: Software 9 of 13
Type: Add-on Acquisition 35 of 46
State: Florida 3 of 3
Country: United States 53 of 68
Year: 2020 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-23 GoodRx

Santa Monica, California, United States

GoodRx is a source for prescription and healthcare savings. More than 10 million consumers use GoodRx each month to find current prices and discounts on their medications. GoodRx’s real-time market-intelligence platform gathers retail prices and coupons for virtually every pharmacy in America, providing savings of up to 80%. GoodRx was founded in 2011 and is based in Santa Monica, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 Verafin

St. John's, Newfoundland, Canada

Verafin is a leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today.

Sell $2.8B