Thoughtworks Agrees to Be Taken Private by Apax Funds for $4.40 a Share-March 2024-www.financetom.com

Thoughtworks Agrees to Be Taken Private by Apax Funds for $4.40 a Share

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Thoughtworks Agrees to Be Taken Private by Apax Funds for $4.40 a Share

Aug 5, 2024 4:54 AM

07:25 AM EDT, 08/05/2024 (MT Newswires) -- Thoughtworks Holding ( TWKS ) said Monday it has entered into a definitive merger agreement in which an affiliate of funds advised by Apax Partners will buy all of the outstanding shares of Thoughtworks ( TWKS ) common stock they do not already own for $4.40 per share.

The deal implies a total enterprise value for Thoughtworks ( TWKS ) of about $1.75 billion, which represents a 30% premium to its closing stock price on Aug. 2, the last full trading day prior to the transaction announcement, according to Thoughtworks ( TWKS ).

The acquisition is expected to close in Q4, subject to customary closing conditions, Thoughtworks ( TWKS ) said.

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