Add-on Acquisition • Information Technology

ThoughtWorks Acquires Itoc

On February 6, 2023, ThoughtWorks acquired information technology company Itoc

Acquisition Context
  • This is ThoughtWorks’ 1st transaction in the Information Technology sector.
  • This is ThoughtWorks’ 1st transaction in Australia.

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M&A Deal Summary

Date February 6, 2023
Target Itoc
Sector Information Technology
Buyer(s) ThoughtWorks
Deal Type Add-on Acquisition

Target Company

Itoc

Brisbane, Australia
Itoc is a AWS Advanced Consulting Partner working with organizations ranging from small/medium businesses to enterprise to deliver innovative, secure and scalable cloud solutions based on the Amazon Web Services platform. Itoc was founded in 2012 and is based in Brisbane, Australia.
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Buyer Overview 1

Buyer

ThoughtWorks

Chicago, Illinois, United States

Category Company
Founded 1993
Sector Information Technology
Employees10,491
Revenue 1.1B USD (2023)
DESCRIPTION

ThoughtWorks is a global software consultancy and a community of passionate, purpose-led individuals. The company is a provider in the implementation of cutting-edge software development techniques such as Agile Development, which lower development costs and time-to-market for its clients. ThoughtWorks was established in 1993 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 5 of 6
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 5 of 5
Country: Australia 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-28 Handmade

São Paulo, Brazil

Handmade is a design consultancy to generate business value for clients. Handmade was founded in 2015 and is based in São Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-17 Watchful - Technology & Talent Assets

San Francisco, California, United States

Watchful's Technology & Talent Assets provides AI models.

Buy -