Clearwater Analytics enters into a definitive agreement to be acquired by an investor group led by private equity firms Permira and Warburg Pincus in a transaction valued at approximately US$8.4 billion. The investor group includes participation from Temasek, with key support from Francisco Partners. Under the terms of the agreement, Clearwater Analytics stockholders will receive US$24.55 per share in cash upon completion of the proposed transaction. This purchase price represents a premium of approximately 47 per cent over the company’s undisturbed share price as of 10 November 2025, the last trading day prior to media reports regarding a potential transaction. Based in Boise, Idaho, Clearwater Analytics provides a cloud-native platform for institutional investors, including leading insurers and asset managers, supporting more than US$10 trillion in assets globally. Following the completion of the transaction, the company’s common stock will no longer be publicly listed on the New York Stock Exchange, and it will become a privately held company. Sandeep Sahai, CEO of Clearwater Analytics, says: “This deal represents a great outcome for Clearwater Analytics and our stockholders. It also positions us well for our next chapter of growth. 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”. Sahai adds: “Both firms understand our business and the technology industry and have proven track records fostering growth for some of the largest and fastest-growing technology businesses globally. We look forward to building on our momentum and delivering advanced solutions for our clients and partners in the years ahead”. The acquisition is subject to approval by stockholders and receipt of regulatory approvals. The transaction is expected to close in the first half of 2026. The merger agreement provides for a ‘go-shop’ period ending on 23 January 2026, during which Clearwater Analytics is permitted to actively solicit alternative acquisition proposals.
