TWKS Overview

Acquisition Announcement: Thoughtworks has been acquired by affiliates of Apax Partners for approximately $1.75 billion, taking the company private and providing stockholders with a cash payment of $4.40 per share, reflecting a 48% premium.

Future Focus: As a private entity, Thoughtworks aims to concentrate on long-term strategies and innovation in AI-enabled software and data engineering services, enhancing its capabilities to solve complex technology challenges for enterprises globally.

Financial Performance: Thoughtworks Holding reported a Q3 GAAP EPS of -$0.02 and revenue of $261.4 million.

AI Collaboration: The company is actively collaborating to promote AI adoption in Singapore.

Investigation Announcement: Johnson Fistel, LLP is investigating potential breaches of fiduciary duties related to the proposed sales of Smartsheet, Barnes Group, and Thoughtworks, following their acceptance of acquisition proposals from various firms.

Acquisition Details: Smartsheet will be acquired for $56.50 per share, Barnes Group for $47.50 per share, and Thoughtworks for $4.40 per share, all transitioning to privately held entities post-acquisition.

Investigation of Shareholder Claims: Johnson Fistel, LLP is investigating potential breaches of fiduciary duties related to the acquisition proposals for Smartsheet, Barnes Group, and Thoughtworks, which will transition these companies to private entities after all-cash transactions.

Details of Acquisition Offers: Smartsheet shareholders will receive $56.50 per share, Barnes Group shareholders will get $47.50 per share, and Thoughtworks shareholders will be compensated $4.40 per share as part of their respective acquisition deals.

Investigation of Shareholder Claims: Johnson Fistel, LLP is investigating potential breaches of fiduciary duties for shareholders of Smartsheet, Barnes Group, Thoughtworks, and PowerSchool regarding their recent acquisition proposals.

Details of Acquisition Offers: Each company has accepted acquisition offers with specific cash compensation per share, transitioning to privately held entities after the deals are finalized.