Thoughtworks Holding Inc. (Turing Holding)

General Information
Business:

We are 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. This is reflected in our average annual revenue per employee of over $100,000 in each of 2019 and 2020, which is higher than our public pure-play competitors and which we believe is meaningfully higher than all our pure-play competitors. (See “Business—Competition.”) 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. We leverage our vast experience to improve our 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. We are a globally diversified business, with clients across all major verticals and geographies. Our global distributed agile delivery model operates where our clients are, with over 9,000 employees working across 17 countries on five continents. Further, our unique, diverse and cultivating culture, with a reputation for technology excellence and thought leadership, enables us to attract and retain what we believe is the best talent in the industry. That is why our clients trust Thoughtworks as their premium digital transformation partner.

Consumer expectations and next-generation technologies are constantly evolving, requiring companies to reevaluate their business models and undergo end-to-end digital transformations. This trend has only accelerated due to the COVID-19 pandemic. Yet most companies do not have access to the expertise they need to keep pace. This is why digital transformation services spending is expected to more than double to $1 trillion by 2025, according to MarketsandMarkets. At the same time, many other service providers lack the deep expertise, premium capabilities, proximity to clients and global presence required to innovate and deliver cutting-edge technology solutions rapidly and at scale.

Founded in 1993, Thoughtworks provides premium, end-to-end digital strategy, design and engineering services to enable companies across the globe to successfully and rapidly navigate their digital transformation journeys. 

(Note: Thoughtworks priced its IPO on Sept. 14, 2021, at $21 – above the top of its $18-to-$20 price range – and priced 36.84 million shares – to raise $773.64 million.)

Industry: Services - Computer Programming & Data Processing
Employees: 9000
Founded: 1993
Contact Information
Address 200 East Randolph Street, 25th Floor Chicago, Illinois 60601
Phone Number (312) 373-1000
Web Address http://www.thoughtworks.com/
View Prospectus: Thoughtworks Holding Inc. (Turing Holding)
Financial Information
Market Cap $5796.71mil
Revenues $901.0 mil (last 12 months)
Net Income $78.2 mil (last 12 months)
IPO Profile
Symbol TWKS
Exchange NASDAQ
Shares (millions): 36.8
Price range $21.00 - $21.00
Est. $ Volume $773.6 mil
Manager / Joint Managers Goldman Sachs/J.P. Morgan/Credit Suisse/BofA Securities/Citigroup/RBC Capital Markets/HSBC
CO-Managers Baird/Cowen/Nomura/Piper Sandler/Wedbush Securities/William Blair/CastleOak Securities/Mischler Financial Group, Inc./Siebert Williams Shank
Expected To Trade: 9/15/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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