secwatch.observer — SEC 8-K summary
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Issuer:     Clearwater Analytics Holdings, Inc. (CWAN)
CIK:        0001866368
Form:       8-K
Filed at:   2025-03-12T23:59:59+00:00
Accession:  0001193125-25-052444
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearwater Analytics acquires Beacon for ~$560M and Bistro from Blackstone for $125M
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- Beacon acquisition: ~$560M total (60% cash, 40% stock at $30.05/share); Beacon had $44M ARR in 2024.
- Bistro acquisition: $125M from Blackstone ($10M cash, rest stock at $30/share); portfolio visualization platform.
- Funding via $800M Term Loan B, cash on hand, and $200M revolver; also includes prior Enfusion acquisition.
- Deals aim to create a unified front-to-back platform spanning public/private markets, data, risk, and execution.
- PIMCO, an existing Beacon strategic partner and investor, will continue to collaborate on the platform.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866368/000119312525052444/0001193125-25-052444-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866368/000119312525052444/d853519d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-052444

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer