<article>Family-owned investment firm <a href="https://www.dealstreetasia.com/?s=Advance">Advance</a> has announced its acquisition of <a href="https://www.dealstreetasia.com/?s=Turnitin">Turnitin</a>, a US-based education technology company backed by Singapore&#8217;s <a href="https://www.dealstreetasia.com/?s=GIC">GIC</a> and <a href="https://www.dealstreetasia.com/?s=Insight%20Venture Partners">Insight Venture Partners</a>.</article>

Family-owned investment firm <a href="https://www.dealstreetasia.com/?s=Advance">Advance</a> has announced its acquisition of <a href="https://www.dealstreetasia.com/?s=Turnitin">Turnitin</a>, a US-based education technology company backed by Singapore&#8217;s <a href="https://www.dealstreetasia.com/?s=GIC">GIC</a> and <a href="https://www.dealstreetasia.com/?s=Insight%20Venture Partners">Insight Venture Partners</a>.
Financial details of the transaction, which is still subject to customary regulatory approvals, have not been disclosed but Advance said the deal has no financing condition.
Founded in 1996, Turnitin owns proprietary software that checks plagiarism in writing and code assignments, provides real-time feedback for students, and automates grading for teachers through machine learning, computer vision, and advanced artificial intelligence.
It has international offices in the UK, Netherlands, Australia, Korea, India, and throughout Latin America.
“Turnitin’s originality checking and authorship investigation services ensure academic integrity, promote critical thinking, and help students improve their authentic writing,” the company said.
Turnitin said its products are used by over 34 million students in over 15,000 K-12 and higher education institutions in 153 countries. It added that its student paper submission has grown massively from one million in 2002 to one billion in 2018.
Advance said it will acquire Turnitin from an investment entity affiliated with Insight Venture Partners, GIC, and their co-investors. Advance is a diversified, family-owned company that operates and invests in a broad range of media, communications and technology businesses globally.
Its portfolio of companies includes Condé Nast, Advance Local, American City Business Journals, Sports Business Group, 1010data, and Stage Entertainment. Advance is also one of the largest shareholders in Discovery, Charter Communications, and Reddit.
Advance co-president Steve Newhouse said the Advance and Turnitin teams will work together to further enhance Turnitin’s core products, invest in emerging technologies, and explore new opportunities.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/gic-crypto-exchange-coinbase-123591/">Singapore’s GIC said to invest in US crypto exchange Coinbase</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/tencent-pulls-investment-in-content-start-up-after-online-backlash-98649/">Tencent pulls investment in content startup Chaping after online backlash</a>

Family-owned investment firm Advance has announced its acquisition of Turnitin, a US-based edtech company backed by GIC and Insight Venture Partners.

Advance acquires GIC-backed education technology firm Turnitin

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Advance acquires GIC-backed education technology firm Turnitin

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief