GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company have invested $720 million in ThoughtWorks, a global software consultancy.
The proceeds will be used to repurchase equity from existing investors. The new commitment of capital comes as the company continues to invest in growth and international expansion.
“Siemens strongly believes in the growth potential of supporting the digitalization of businesses across all industries. We believe that ThoughtWorks is the right partner with outstanding capabilities,” said Cedrik Neike, managing board member of Siemens, responsible for digital industries and Siemens Advanta.
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.