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The transaction could value specialist distressed debt and bankruptcy information provider at about $1.5b. Private equity groups have expressed interest in Reorg in recent months, as buyout investors have snapped up lucrative specialist content companies that can charge corporate clients high, recurring subscription fees. Rival data companies have also expressed interest to participate in the auction as they seek to consolidate the industry.
Warburg Pincus acquired a controlling stake in Reorg in 2018 at a $400mn valuation. Reorg has sought to combine the features of a technology company, using machine learning to quickly scrape legal filings along with deal analysis, with original reporting from journalists as well as former lawyers and bankers. Its annual subscriptions can cost in excess of $100,000, since the service can replace the work of junior attorneys.
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