Clearwater Analytics Set for $8.4 Billion Take-Private Deal

Enfusion US2928121043

A consortium led by private equity firms Permira and Warburg Pincus has agreed to acquire Clearwater Analytics in an all-cash transaction valued at approximately $8.4 billion. The deal, priced at $24.55 per share, will see the entire technology platform transition into private ownership, concluding its period as a publicly listed entity.

The investor group, which also includes backing from Francisco Partners and Temasek, is proceeding with a straightforward cash offer. A significant milestone was passed on January 23, when a mandated "go-shop" period expired without any competing bids emerging. The acquisition is anticipated to close during the first half of 2026.

This move will finalize the integration of the former Enfusion business, which Clearwater Analytics itself acquired for $1.5 billion on April 21, 2025. The combined technology stack, featuring front-to-back solutions originally developed by Enfusion, will subsequently be delisted from public markets.

Final Public Financial Disclosure

The company has scheduled a financial update for February 18, 2026, covering results for the fourth quarter and the full 2025 fiscal year. However, the customary process will be notably altered due to the pending privatization.

• No Earnings Call: Management will not host the usual conference call for analysts.
• No Forward Guidance: The company will refrain from issuing any forecasts or outlook for future performance.

This event will essentially serve as a final data update for stakeholders, offering a last detailed public view into the performance of the integrated platform before it exits the public spotlight.

Business Operations Continue Amid Ownership Shift

Despite the corporate-level strategic shift, the operational unit continues to advance its commercial objectives. A recent strategic integration with TreasurySpring was announced, enabling institutional clients on the platform to access over 1,000 cash investment products directly for more efficient liquidity management.

Earlier in the week, a significant client win in the German market was secured. Generali Deutschland AG selected the platform to modernize its €40 billion unit-linked life insurance business. This multi-year project involves consolidating the portfolio management and order execution for four subsidiaries onto the cloud-based infrastructure, replacing legacy systems.

The impending privatization of the entire group marks the final step in transitioning the business into a private structure, with the February 18 financial release standing as the last major public data point before delisting.

@ boerse-global.de | US2928121043 CLEARWATER