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Thoughtworks, a tech consulting firm partnered with Amazon Web Services and Google Cloud, is set to be taken private by Apax Partners in a deal valued at approximately $1.75 billion. The acquisition price of $4.40 per share represents a 48% premium to the 30-day volume-weighted average price (VWAP) and a 29.8% premium overall. The deal has been unanimously recommended by a special committee of the Thoughtworks Board. The company's stock surged 26% in pre-market trading following the announcement. Thoughtworks, which had a market capitalization of $6.4 billion at the time of its 2021 IPO, has also unveiled a new plan that will impact hundreds of employees.
Software consultancy Thoughtworks to be taken private by PE firm Apax Partners for ~$1.75B; TWKS jumps 26%+ but is still far below its 2021 IPO price (Reuters) https://t.co/DUib26qLu4 đ« Subscribe: https://t.co/OyWeKSRpIM https://t.co/P3kzb4pemP
Amazon Web Services and Google Cloud partner Thoughtworks is being taken private by Apax Partners in a deal worth $1.75 billion. The IT consultancy has also unveiled a new plan that will impact hundreds of employees. $TWKS https://t.co/lzLcxIwx62
Apax Partners Taking Thoughtworks Private The deal values the tech consulting firm at about $1.75 billion, down from a $6.4 billion market capitalization at the time of its 2021 IPO via âŠ@ColinKellaherâ© @WSJ #PrivateEquity https://t.co/INAnEc74WM