Clearwater Analytics Holdings, Inc. (CWAN): M&A transaction — Clearwater completes $1.5B acquisition of Enfusion, unifies front-to-back investment platform

Clearwater Analytics Holdings, Inc.

Acquisition valued at ~$1.5B; Enfusion holders receive $10.87/share (cash) or 0.4676 CWAN shares, subject to proration (52% cash/48% stock).
Clearwater secures new $800M term loan and $200M revolver from JPMorgan-led syndicate to fund deal and refinance existing debt.
Deal creates first single-instance, cloud-native platform for front, middle, and back-office investment operations, eliminating fragmented workflows.
Enfusion contributes 38% of revenue from Europe/Asia; Clearwater expands global footprint to 7 hubs including London, Mumbai, and Singapore.
Clearwater's earlier acquisition of BISTRO (private credit analytics) and pending Beacon acquisition further broaden platform capabilities.

item 1.01 item 1.02 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Clearwater Analytics Holdings, Inc. completed an acquisition involving Enfusion, Inc. for $1,412,840,049.03 (closed 2025-04-21).

Action: acquisition
Counterparty: Enfusion, Inc.
Consideration: $1,412,840,049.03
Closing: 2025-04-21

Exact text from the filing

to the Closing Date, was $23.2440, which was less than $25.0133, (w) the Per Share Parent Stock Amount was deemed to be 0.2159, (x) the Aggregate Consideration was equal to $1,412,840,049.03, (y) the Aggregate Consideration Per Share was equal to $10.87 and (z) the Exchange Ratio was 0.4676. As the Per Share Cash Consideration option was oversubscribed, such election

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Source: SEC EDGAR

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