Thoughtwprks Completes $890 Million IPO

Technology & Services

Thoughtworks IPO


Thoughtworks Holding, Inc. (“Thoughtworks” or the “Company”) (NASDAQ: TWKS), a portfolio company of Apax Partners (“Apax”), recently completed an initial public offering of 42,368,421 shares of common stock, including the exercise in full of the underwriters’ overallotment option, at a price of $21.00 per share, generating gross proceeds of approximately $889.7 million. The Company intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures, working capital, investments in subsidiaries, repayment of debt and acquisitions.

Baird served as a bookrunner on this offering.


Thoughtworks is a leading premium global technology consultancy that integrates strategy, design and software engineering to enable enterprises and technology disruptors across the globe to thrive as modern digital businesses. With companies facing ongoing digital disruption, many lack the capabilities and talent necessary to keep pace with the accelerating rate of technological change. Thoughtworks is a digital native service provider that has been a thought leader at the forefront of technology innovation for the past 28 years. The Company leverages its vast experience to improve clients’ ability to respond to change; utilize data assets to unlock new sources of value; create resilient technology platforms that move with business strategies; and rapidly design, deliver and evolve exceptional digital products and experiences at scale. The Company’s global distributed agile delivery model operates where its clients are, with over 9,000 employees working across 17 countries on five continents. Thoughtworks is headquartered in Chicago, Illinois.

Apax is a leading global private equity advisory firm. For more than four decades, Apax has built specialist expertise across four industry sectors: Tech, Services, Healthcare, and eConsumer. To date, Apax Partners has raised and advised funds with aggregate commitments of more than $60 billion. Apax is headquartered in London, the United Kingdom.
Technology & Services

Thoughtworks IPO

September 2021
Thoughtworks Holding, Inc.
Equity Capital Markets
Technology & Services
Business Process Outsourcing
IT Services, Security & Networking
Target Location
North America