Permira and Warburg Pincus reached a definitive agreement to acquire Clearwater Analytics. The deal values the SaaS company at approximately $8.4 billion. Under the terms of the agreement, stockholders will receive $24.55 per share in cash, representing a premium of approximately 47% over the undisturbed share price as of November 10, 2025. Francisco Partners and Temasek also participated in this significant transaction.
Furthermore, the board of directors unanimously approved the merger agreement. The transaction should close during the first half of 2026. Clearwater Analytics provides leading investment accounting and reporting solutions. Their platform serves insurers, asset managers, and large corporations.
Executive Commentary on the Transaction
“This deal represents a great outcome for Clearwater Analytics and our stockholders,” said Sandeep Sahai, CEO, CWAN. “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. This will allow us to continue delighting our clients across global markets. We are thrilled to have the support of Permira and Warburg Pincus.”
“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. We look forward to building on our momentum and delivering advanced solutions for our clients and partners in the years ahead. I want to thank the Special Committee for the rigorous process and diligence with which they secured this outcome for our stockholders,” added Sahai.
“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 built a single instance, multi-tenant platform for investment accounting in an industry that was and continues to be dominated by legacy solutions. We are excited about the vision for the platform and will continue to invest in building a true front-to-back solution by integrating the industry-leading solutions from Enfusion and Beacon. The next cycle will be shaped by AI and data, and we believe the business is uniquely positioned to continue to lead through this shift,” said Andrew Young, Partner at Permira. “We are very excited to back Sandeep and his team on their AI journey and in delivering a seamlessly integrated platform,” added Alberto Riva, Managing Director at Permira.
“The quality of Clearwater Analytics’ business and strength of its team are evident in the company’s growing leadership as it serves expanding segments of institutional investors across the US and Europe and, increasingly, delivers front-to-back solutions to these customers. We look forward to partnering with Warburg and Permira to drive the Company’s next phase of growth,” said Ashley Evans, Partner at Francisco Partners.
Additionally, the company will benefit from the capital resources of its new partners. The leadership team under Sandeep Sahai will continue to lead the firm. The headquarters will stay in Boise, Idaho.
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News Source: Businesswire.com
