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M&A Deal Summary

Warburg Pincus Acquires Turnitin

On July 1, 2008, private equity firm Warburg Pincus acquired internet software and services company Turnitin

Acquisition Highlights
  • This is Warburg Pincus’ 4th transaction in the Internet Software and Services sector.
  • This is Warburg Pincus’ 80th transaction in the United States.
  • This is Warburg Pincus’ 15th transaction in California.
Investment Fate
  • Turnitin was sold to a consortium of financial buyers in 2014 for 752M USD.
  • Turnitin was sold to a strategic buyer in 2019 for 1.8B USD.

M&A Deal Summary
Date 2008-07-01
Target Turnitin
Sector Internet Software and Services
Buyer(s) Warburg Pincus
Deal Type Buyout (LBO, MBO, MBI)

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

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 137 of 493
Sector: Internet Software and Services M&A 4 of 39
Type: Buyout (LBO, MBO, MBI) M&A Deals 46 of 86
State: California M&A 15 of 44
Country: United States M&A 80 of 242
Year: 2008 M&A 11 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-23 Constitution Medical Investors

Boston, Massachusetts, United States

Constitution Medical Investors, Inc. (CMI) is the developer of a highly innovative hematology testing system, which is designed to provide faster and more accurate diagnosis of blood-related diseases, thereby improving patient care.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-21 WuXi AppTec

Shanghai, China

WuXi AppTec is a provider of pharmaceutical, biotechnology, and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi AppTec was founded in 2000 and is based in Shanghai, China.

Buy -
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