THOUGHTFOCUS RECEIVES STRATEGIC GROWTH INVESTMENT FROM H.I.G. CAPITAL

BANGALORE, India, Nov. 17, 2022 /PRNewswire/ -- ThoughtFocus, Inc. ('ThoughtFocus' or the 'Company'), a global provider of digital services and technology enabled digital operations for the financial services, manufacturing, and higher education sectors, is pleased to announce that H.I.G. Capital ('H.I.G.') has made a strategic growth investment in the Company. H.I.G. is a leading global alternative investment firm with $52 billion of equity capital under management. The growth investment is designed to help accelerate ThoughtFocus' expansion into a global leader in digital services both organically and through acquisitions.

Today, ThoughtFocus has over 2,100 employees across offices in five different countries. It serves clients globally with an emphasis on the U.S. market. With a family of products and accelerators, the Company helps clients undergo an accelerated digital transformation journey. Taking a holistic approach to digital transformation, it ensures business outcomes through a combination of its digital technology, digital operations, and deep subject matter expertise.

The Founders, Suman Atreya, Rajiv Goyal and Shylesh Krishnan, expressed their excitement on this partnership with H.I.G. In a statement they said, "This investment from H.I.G. Capital was carefully chosen to align with the future vision of the Company. It comes at an opportune time when we have committed ourselves and our clients to 'A Better Future Faster.' The Company has ambitious plans for growth and this partnership with H.I.G. sets us on that accelerated path to becoming a leading global digital services provider."

Anuradha Arun, CFO at ThoughtFocus, commented, "This investment is a significant milestone in ThoughtFocus' journey to becoming a globally recognized brand in the technology industry."

Kevin Van Culin, Managing Director at H.I.G., said, "We are excited to partner with the founders of ThoughtFocus and have been highly impressed by the Company's track record of profitable growth, long-tenured customer relationships, and strong company culture."

Blackstone Innovations Investments, which made a minority investment in ThoughtFocus in 2013, exited its investment in connection with this transaction. David Payne, Senior Managing Director at Blackstone commented: "Blackstone's successful investment in and partnership with ThoughtFocus played an important role in Blackstone's scaling of its technology and other operations. We wish them continued success on their journey." 

D.A. Davidson served as the exclusive financial advisor to ThoughtFocus on the transaction and Reed Smith LLP provided legal counsel.

ABOUT THOUGHTFOCUS

ThoughtFocus helps forward-looking companies and organizations in financial services (capital markets, payments/loyalty, and mortgage/lending), manufacturing, and higher education/public sector innovate and achieve a better future faster. ThoughtFocus' innovative and cutting-edge technology solutions enable its customers to deploy new capabilities faster, deliver better user experiences, and drive operating efficiencies. We do this through executional excellence and mitigating the risk of change. With headquarters in the U.S., the Company has more than 2,100 employees in locations spread across 5 countries. For more information, please visit the company website www.thoughtfocus.com.

ABOUT H.I.G. CAPITAL

H.I.G. is a leading global private equity and alternative assets investment firm with $52 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

ABOUT BLACKSTONE

Blackstone is the world's largest alternative asset manager. Its $951 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds. www.blackstone.com.

ABOUT D.A. DAVIDSON COMPANIES

D.A. Davidson is an employee-owned financial services firm offering a range of financial services. Founded in 1935, the company has approximately 1,525 employees and offices in 27 states. Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services, and advice. dadavidson.com.

ABOUT REED SMITH

Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. Its deep industry knowledge, long-standing relationships and collaborative structure make them the go-to partner for complex disputes, transactions, and regulatory matters. www.reedsmith.com.

Contact:
ThoughtFocus, Inc., 245 S Executive Dr, Suite 250, Brookfield, WI 53005, +1 414 214 3100
[email protected], www.thoughtfocus.com