Apax Partners Takes Thoughtworks Private in $1.75 Billion Buyout

GIC, Siemens, Fidelity and Mubadala Invest $720M in ThoughtWorks

January 14, 2021

IT Services

ThoughtWorks received a $720 million investment from GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company at an enterprise value of $4.6 billion. The capital will be used to repurchase equity from existing investors and to support the company's growth and international expansion; Apax Partners is referenced as a prior investor.

Thoma Bravo Completes Acquisition of Proofpoint, Inc.

August 31, 2021

Cybersecurity

Thoma Bravo, a leading software-focused private equity firm, completed the acquisition of Proofpoint, Inc. for approximately $12.3 billion in cash. Proofpoint stockholders received $176.00 per share and Proofpoint will operate as a private company under Thoma Bravo to accelerate product innovation and growth in people-centric cybersecurity.

Thoughtworks Acquires Toronto-based Product Development Consultancy Connected

April 27, 2022

IT Services

Thoughtworks has acquired Connected, a Toronto-based product development consultancy with over 165 employees, to strengthen its customer experience, product and design (CXPD) capabilities and expand its presence in Canada. Connected’s full team will join Thoughtworks, and Connected leadership will take roles within Thoughtworks’ Canada organization; financial terms were not disclosed.

Bain Capital Takes Envestnet Private in $4.5B Transaction

July 11, 2024

Financial Services

Bain Capital, with participation from Reverence Capital and Norwest, agreed to acquire Envestnet for $63.15 per share in a transaction valuing the company at approximately $4.5 billion. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors committed to minority investments in the private company; the deal is intended to support Envestnet's growth and further investment in its wealth management platform.

Apax Partners Makes ~$450M Minority Investment in IBS Software

May 16, 2023

Cloud & SaaS

Funds advised by Apax Partners agreed to invest approximately $450 million to acquire a significant minority stake in IBS Software from Blackstone. The transaction will leave founder V K Mathews as majority shareholder and positions Apax as a strategic partner to help IBS accelerate growth of its cloud-native travel and logistics SaaS platform.

Thoughtworks Acquires Australian AWS Consultancy Itoc

February 6, 2023

IT Services

Thoughtworks (NASDAQ: TWKS) has acquired Itoc, a privately-held Australian Amazon Web Services (AWS) Advanced Consulting Partner and cloud managed services provider. The acquisition — which brings Itoc's ~70 employees and AWS expertise into Thoughtworks — expands Thoughtworks' cloud, enterprise modernization and managed services capabilities in Australia; financial terms were not disclosed.