Conde Nast owner Advance Publications is buying Turnitin,
a provider of education tech for academic integrity and writing solutions, from
an investment entity affiliated with Insight Venture Partners, GIC and their
co-investors, according to a Turnitin news release.
Through
machine learning, computer vision, and advanced artificial intelligence,
Turnitin’s products check for plagiarism in writing and code assignments,
provide real-time feedback for students, and automate grading for teachers
across multiple disciplines.
Turnitin’s
products are used by over 34 million students in over 15,000 K-12 and higher
education institutions in 153 countries, the company says.
“We admire
Chris Caren and his team, and Turnitin’s outstanding track record of enhancing
integrity in written work at schools, universities, and publishers worldwide
through cutting-edge technology,” said Steve Newhouse, co-president of Advance.
The deal is
expected to close in the second quarter of this year. Terms of the transaction
were not disclosed, but The Wall Street Journal reported that
Advance agreed to buy the company for nearly $1.75 billion, citing people with
access to the information.
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