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Investing.com -- Clearwater Analytics, a software-as-a-service provider based in Boise, Idaho, on Wednesday announced its plans to acquire Beacon Platform and Bistro, both software platforms, in a deal valued at $685 million.
The purchase will be made in a combination of cash and stock.
The company will spend approximately $560 million on Beacon Platform, a provider of cross-asset class modeling and risk analytics.
The deal includes the purchase of Beacon’s platform for derivatives, private credit and debt, structured products, and other alternative assets. 60% of the purchase price will be paid in cash.
As of the end of 2024, Beacon’s platform had an annual recurring revenue of about $44 million.
In addition to Beacon, Clearwater will also acquire Bistro, a proprietary portfolio visualization software platform built for Blackstone (NYSE:BX)’s credit and insurance business. T
he company will pay $125 million for Bistro, with $10 million of the purchase price in cash.
Clearwater intends to fund these acquisitions, as well as its pending $1.5 billion acquisition of Enfusion, through a combination of its previously committed $800 million term loan B, cash on hand, and a portion of its $200 million revolving credit line.
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