ThoughtWorks raises $720 million from Siemens, GIC, other investors

(Reuters) – Software consultancy company ThoughtWorks said on Thursday it raised $720 million from investors including GIC and Siemens AG at an enterprise value of $4.6 billion.

ThoughtWorks, which helps firms digitize their operations, said it would use the proceeds to buy back equity from its current investors to expand its international footprint.

Fidelity Management and Research LLC and Mubadala Investment Co also invested in ThoughtWorks, which counts Delta Air Lines Inc as one of its clients.

Goldman Sachs & Co LLC and J.P. Morgan Securities LLC were the placement agents to ThoughtWorks for the transaction.

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