On the Record · Thoughtworks Holding
Thoughtworks Holding acquisitions, on the record
The businesses Thoughtworks Holding bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Gemini SolutionsWord for word“In 2021, we made two strategic acquisitions: (i) Gemini Solutions in Romania to increase our nearshore European presence and (ii) Fourkind in Finland and the Netherlands to enhance our advisory, digital transformation and AI consulting capabilities.” 10-K for 2021 | agreed acquisition | 2021 | — |
FourkindWord for word“In 2021, we made two strategic acquisitions: (i) Gemini Solutions in Romania to increase our nearshore European presence and (ii) Fourkind in Finland and the Netherlands to enhance our advisory, digital transformation and AI consulting capabilities.” 10-K for 2021 | agreed acquisition | 2021 | — |
Connected Lab Inc. ("Connected")Word for word“In April 2022, we completed the acquisition of Connected Lab Inc. ("Connected"), an end-to-end product design and development firm, which will advance our capabilities in solving business problems through product-led design processes, from defining the strategy to discovery and delivery.” 10-K for 2022 | acquisition | April 2022 | — |
Handmade DesignWord for word“In August 2022, we completed the acquisition of Handmade Design, an innovation through design consultancy, which will add premium customer experience ("CX") and product design capacity and capabilities in Brazil for the benefit of clients and end users worldwide.” 10-K for 2022 | acquisition | August 2022 | — |
Gemini and FourkindWord for word“2021 —Surpassed $1 billion in annual revenues. Acquired Gemini and Fourkind; completed initial public offering (IPO) and began trading publicly on the NASDAQ.” 10-K for 2022 | acquisition | 2021 | — |
ITOC Pty Ltd (Itoc)Word for word“In February 2023, we completed the acquisition of ITOC Pty Ltd ("Itoc"), a leading Amazon Web Services Advanced Consulting Partner and Cloud Managed Services Provider in Australia.” 10-K for 2023 | acquisition | In February 2023 | — |
ConnectedWord for word“Net cash used in investing activities in 2022 was $93.9 million driven by the acquisition of Connected in the second quarter of 2022 and purchases of property and equipment.” 10-K for 2023 | acquisition | the second quarter of 2022 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2019-12-31 | $0 | — |
| 2020-12-31 | $0 | — |
| 2021-12-31 | $44.8 million | $32.6 million |
| 2022-12-31 | $70 million | $71.7 million |
| 2023-12-31 | $16 million | $13.8 million |
Deal filings since 2016
- 2024-11-13 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2024-08-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-12-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Thoughtworks Holding’s annual reports (10-K for 2023, 10-K for 2022, 10-K for 2021) and the financial data it files with the SEC, as of 2024-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.