Paradigm Ltd. a George Town, Cayman Islands-based provider of enterprise software solutions to the oil and natural gas exploration and production industry, announced a $65m cash investment from affiliates of private equity firm Fox Paine & Company, Paradigm’s majority shareholder.
As stated by Eldad Weiss, Paradigm Vice Chairman, this capital infusion will enable the company to accelerate the commercialization and rollout of its technology.
“Our enhanced financial position will allow us to accelerate the commercialization of recent game changing R&D breakthroughs, which should result in aggressive topline growth in 2010 and beyond”, he said.
In addition, Paradigm announced the departure of John W. Gibson, Jr. after 4.5 years as Paradigm CEO.
FinSMEs
05/01/2010