Singapore’s sovereign wealth fund, GIC, along with Siemens AG, Fidelity Management and Mubadala Investment Company have invested a combined US$720 million ($954.5 million) in ThoughtWorks, a global software consultancy.

ThoughtWorks, which was founded 25 years ago in Chicago, has its roots in digital transformation and agile software development. The company has also been responsible for defining the tech principles used by organisations around the world.

According to ThoughtWorks, the proceeds will be used to repurchase equity from existing investors, as the company continues to invest in growth and its expansion overseas.

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