The group, led by Permira & Warburg Pincus, will take the company private.
A group of private equity and investment firms announced late last year that it is acquiring Clearwater Analytics (CWAN) via an $8.4 billion transaction that will take the company private and pay out $24.55 per share in cash to CWAN stockholders upon completion of the proposed transaction, officials say.
The investment group is led by private equity firms Permira and Warburg Pincus. It includes participation from Temasek, a sovereign wealth fund based in Singapore, and private equity firm Francisco Partners.
“Under the terms of the agreement, CWAN stockholders will receive $24.55 per share in cash upon completion of the proposed transaction. The per share purchase price represents a premium of approximately 47 percent over CWAN’s undisturbed share price as of November 10, 2025, the last trading day prior to media reports regarding a potential transaction,” according to the announcement. A special committee of the board of directors for CWAN “unanimously recommended this transaction.” The CWAN board subsequently approved the transaction.
“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,” says Sandeep Sahai, CEO of CWAN, in a prepared statement.
“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 A.I. and data, and we believe the business is uniquely positioned to continue to lead through this shift,” says Andrew Young, partner at Permira, in a statement.
“The acquisition is subject to approval by CWAN’s stockholders (including a majority of votes cast by disinterested stockholders) and is expected to close in the first half of 2026, subject to customary closing conditions, including receipt of regulatory approvals,” officials say. The merger agreement includes a “go-shop” period ending on Jan. 23, 2026.
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