M&A · Tech · Services-Computer Programming Services
Apax Partners LLP to acquire Thoughtworks Holding, Inc.
Announced Aug 5, 2024 · Closed Nov 13, 2024
Deal value$1.75BEV $1.75B
Premium30.0%To unaffected price
EV / Adj. EBITDA—1.6x EV / Revenue
ConsiderationAll cash$4.40 per share
Transaction
- Acquirer
- Apax Partners LLP
- Target
- Thoughtworks Holding, Inc. (TWKS)
- Buyer type
- Strategic
- Offer price per share
- $4.40
- Enterprise value
- $1.75B
- Status
- Closed Nov 13, 2024
Deal protections
- Break fee (target pays)
- $38.0M · 2.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- Lazard
Sector context · Tech
- Comparable deals
- 56 in the prior 24 months
- Premium
- 30.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- Sector median 16.3x
- Break fee
- 2.2% vs. 3.0% sector median
Timeline
- AnnouncedAug 5, 2024
- Proxy filedSep 3, 2024
- Definitive proxyOct 21, 2024
- Shareholder vote—
- ClosedNov 13, 2024