Sovereign Wealth Investors GIC and Mubadala Invest in ThoughtWorks
Posted on 01/15/2021
ThoughtWorks is a Chicago-based software consultancy. Singapore’s GIC Private Limited, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company have invested US$ 720 million in the ThoughtWorks. The new commitment of capital comes as the company continues to invest in growth and international expansion. The proceeds will be used to repurchase equity from existing investors. The seller of ThoughtWorks is Apax Partners LLP.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as placement agents to ThoughtWorks in connection with this transaction. Kirkland & Ellis LLP acted as legal advisor to ThoughtWorks.
ThoughtWorks started in 1993 with a small group of people in Chicago. The company was founded by Neville “Roy” Singham and it remain privately-owned until Apax stepped in. Funds advised by Apax Partners LLP agreed to buy ThoughtWorks in August 2017.