Investment software fintech Clearwater Analytics has agreed to be acquired in a transaction led by private equity groups Permira and Warburg-Pincus.
Boise, Idaho-based fintech Clearwater Analytics (CWAN) says it has entered into a definitive agreement to be acquired by a Permira and Warburg Pincus-led investor group with participation from Temasek. The transaction is valued at some $8.4bn, it said yesterday (21 December).
Under the terms of the agreement, Clearwater stockholders will receive $24.55 per share in cash upon completion – a premium of around 47pc over its share price on its last day of trading on 10 November. Trading ceased on that day after news reports emerged of a potential transaction.
The deal sees participation from Singapore’s state investment company Temasek Holdings, as well as support from Francisco Partners.
“This deal represents a great outcome for Clearwater Analytics and our stockholders,” said Sandeep Sahai, CEO, Clearwater Analytics.
“It also positions us well for our next chapter of growth. Operating as a private company will empower us to invest boldly as we integrate the platforms to deliver a next-generation front-to-back solution that natively addresses alternative assets, provides industry leading risk analytics, and delivers on agentic solutions powered by our unique and proprietary database.
“Both firms understand our business and the technology industry and have proven track records fostering growth for some of the largest and fastest growing technology businesses globally,” he added.
“Clearwater Analytics continues to set the standard for excellence in the industry, and we are excited to invest behind the vision of creating an open, modular, front-to-back platform for institutional investment management,” said Alex Stratoudakis, managing director, Warburg Pincus.
“We’re excited to leverage our deep financial technology expertise and partner with Permira and the CWAN team to drive the next wave of innovation and growth for the company,” added Angel Pu Shum, principal, Warburg Pincus.
Clearwater Analytics aims to transform investment management with a comprehensive cloud-native platform for institutional investors across global public and private markets.
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