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Announced

Completed

Thoughtworks completed the acquisition of Itoc.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Single Bidder

Cross Border

cloud managed service

Digital Services

Australia

Private

Majority

Completed

Friendly

Synopsis

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Thoughtworks, a technology consultancy, completed the acquisition of Itoc, a cloud managed services provider. Financial terms were not disclosed. “While businesses looking to modernize operations are moving to the cloud for increased speed at scale, they are also looking for ways to innovate, enhance customer experiences and stand out from the competition. I am excited about making this acquisition happen with the highly talented team at Itoc who have accelerated hundreds of clients’ digital transformations through the creative and optimum use of their IT infrastructure on a highly-flexible AWS cloud platform," Guo Xiao, Thoughtworks President and CEO.

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