Paradigm Secures $65 Million Investment, John Gibson Departs as CEO

January 5, 2010 at 1:34 am Leave a comment

Paradigm, provider of oil and gas software solutions, announced a $65 million cash investment from affiliates of private equity firm Fox Paine & Company, Paradigm’s majority shareholder. The capital raised will enable Paradigm to accelerate the commercialization and rollout of breakthrough 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,” said Paradigm Vice Chairman Eldad Weiss.

            Paradigm also announced the departure of John W. Gibson, Jr. after 4.5 years as Paradigm CEO.

            “We thank John for his efforts on behalf of Paradigm and wish him well in his future endeavors,” said Saul Fox, Paradigm Chairman and CEO of Fox Paine & Company.

www.pdgm.com

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