Clearwater completes Enfusion acquisition, unifies investment tech

BOISE, Idaho & NEW YORK & CHICAGO & LONDON & HONG KONG - Clearwater Analytics (NYSE: CWAN), a technology platform for investment management, announced today the completion of its acquisition of Enfusion, Inc. (NYSE: ENFN), a SaaS provider for investment management, in a $1.5 billion deal.

The acquisition is set to create the industry’s first unified, cloud-native platform that integrates front, middle, and back-office investment operations. Clearwater aims to enhance decision-making and operational efficiency for institutional investors by offering a seamless solution for portfolio and order management, IBOR, risk, accounting, and client reporting. The company’s strong financial position, with liquid assets exceeding short-term obligations and a moderate debt level, positions it well for this strategic expansion.

Sandeep Sahai, CEO of Clearwater Analytics, stated that the merger of Enfusion’s front-office capabilities with Clearwater’s existing services is a significant step towards a fully integrated investment management platform. This move is expected to streamline workflows and reduce inefficiencies caused by fragmented systems.

Neal Pawar, President and Head of Asset Management at Clearwater Analytics, emphasized the operational benefits such as the elimination of batch processing and manual reconciliation, which will provide clients with a real-time, comprehensive view of their portfolios and operations.

The acquisition is anticipated to accelerate Clearwater’s growth in asset management, particularly with the integration of Enfusion’s front-office features and Clearwater’s middle and back-office services. Clearwater’s international presence will also expand, with Enfusion generating substantial revenue from Europe and Asia.

Clearwater is currently offering unified client onboarding, and integration milestones are already in progress, including unified dashboards and streamlined reconciliation. The company’s recent acquisition of Blackstone’s BISTRO platform and the upcoming acquisition of Beacon are expected to further enhance its capabilities.

Clearwater Analytics will further discuss the Enfusion acquisition during its First Quarter 2025 earnings conference call on April 30, 2025. The company has demonstrated robust revenue growth of 22.72% over the last twelve months, maintaining a healthy gross profit margin of 72.78%. For deeper insights into Clearwater’s financial performance and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive ProTips and detailed financial metrics for over 1,400 US stocks.

The transaction’s financial advisor to Clearwater was J.P. Morgan Securities LLC, with legal advice provided by Kirkland & Ellis LLP. Enfusion’s Special Committee was advised by Goldman, Sachs & Co. LLC and Dechert LLP, with Goodwin Procter LLP as legal counsel.

This news is based on a press release statement from Clearwater Analytics.

In other recent news, Clearwater Analytics Holdings announced plans to acquire Beacon Platform and Bistro for a total of $685 million. The acquisitions will be funded through a combination of cash, stock, and existing credit facilities. Beacon Platform will be purchased for approximately $560 million, with 60% of the payment in cash, while Bistro will be acquired for $125 million, with $10 million in cash. These strategic moves are expected to enhance Clearwater’s capabilities in risk analytics and portfolio visualization, providing a comprehensive offering for investment managers. DA Davidson reiterated a Buy rating with a $36 price target, expressing confidence in Clearwater’s growth trajectory. The firm highlighted the company’s strategic acquisitions as positive despite potential integration risks. Oppenheimer also maintained a positive stance, reiterating an Outperform rating with a $40 price target, citing Clearwater’s competitive advantages and potential for sustained revenue growth. These developments position Clearwater for significant expansion within the investment management technology sector.

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