CCI Greenlights Stake Acquisition in Thoughtworks by Apax and Temasek

The Competition Commission of India has approved Temasek and Apax Partners' plan to acquire an additional stake in Thoughtworks Holding Inc. Apax, using its vehicle Tasmania Midco LLC, is investing in the global tech consultancy. The deal involves a merger agreement valued at approximately USD 1.75 billion.


Devdiscourse News Desk | New Delhi | Updated: 29-10-2024 19:09 IST | Created: 29-10-2024 19:09 IST
CCI Greenlights Stake Acquisition in Thoughtworks by Apax and Temasek
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The Competition Commission of India (CCI) has given its approval for the acquisition of an additional stake in Thoughtworks Holding Inc. by Singapore's sovereign wealth fund Temasek and Apax Partners. The clearance marks a significant step in the investment landscape for both entities.

Based in London, Apax Partners, a global private equity advisory firm, is acquiring this stake through its special purpose vehicle, Tasmania Midco LLC. Apax has a strong investment presence with funds totaling almost USD 80 billion, primarily focusing on tech, services, healthcare, and internet/consumer sectors.

Earlier in August, Thoughtworks announced a merger agreement where an affiliate advised by Apax Partners would purchase shares, valuing the company at USD 1.75 billion. The deal aligns with regulatory requirements that mandate approval for transactions surpassing specific thresholds to ensure fair competition.

(With inputs from agencies.)

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