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Siemens-backed Thoughtworks

Siemens-backed Thoughtworks valued at $6.4 bln in U.S. IPO

Thoughtworks Holding Inc, a software consultancy company backed by Germany’s Siemens AG, said on Tuesday it priced its initial public offering (IPO) above its target range, valuing the firm at about $6.4 billion.The company said it sold 16.4 million shares at $21 per share. Other investors, including funds advised by Apax Partners, sold about 20.4…

Thoughtworks Holding Inc, a software consultancy company backed by Germany’s Siemens AG, said on Tuesday it priced its initial public offering (IPO) above its target range, valuing the firm at about $6.4 billion.

The company said it sold 16.4 million shares at $21 per share. Other investors, including funds advised by Apax Partners, sold about 20.4 million shares.

Thoughtworks had previously targeted a price range between $18 and $20 per share, aiming for a valuation of about $6.10 billion

The 28-year-old firm has clients such as Canadian wireless carrier Telus Corp, U.S. supermarket chain Kroger Co and payment

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