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Clearwater Analytics , a company developing accounting , compliance , and risk of infection reporting tools for asset managers , saidon Monday it has entered into a definitive arrangement to acquire investment direction platform Enfusion for $ 1.5 billion .
Clearwater , which says it has obtained an $ 800 million loanword to fund the transaction , along with a $ 200 million rotate line of reference , will let Enfusion ’s shareholder elect to receive cash , stock , or a mix . Clearwater expects to pay $ 760 million in John Cash , and issue between some 23 million and 28 million new part to Enfusion shareholders .
Both company ’ boards have harmonize to the full term . Should Enfusion ’s shareowner and regulator sanction it , Clearwater expect the deal to shut down in Q2 2025 .
Enfusion , based in Chicago , was founded in 1997 as a technology and operations consulting house . After noticing a gap in the food market for a portfolio management system , Enfusion ’s managing partners focused their efforts on launching the company ’s current investing tooling .
Enfusion raised tens of billion of dollars in venture capital from investor , including ICONIQ Growth and FTV Capital , which own 45 % of the party along with Enfusion ’s chief executive officer , Oleg Movchan . After going public in 2021 , Enfusion wasvaluedat $ 1.9 billion .
Clearwater asserts that its leverage , for which it ’s paying a 13 % premium over Enfusion ’s stock price as of January 10 , is a wise one , pointing to Enfusion ’s encouraging late financials . Enfusion report preliminary ~15 % year - over - year growth in revenue in 2024 to ~$201 million , and preliminary ~13 % year - over - year growth in one-year recurring receipts to ~$210 million .
Clearwater also sees Enfusion as a way to build a “ front - to - back platform for the entire investment management diligence . ” In apress passing , Clearwater read it plans to integrate Enfusion ’s portfolio and rescript management technology into its offering while expanding into the hedgerow store industriousness and geography where Enfusion already has a presence .
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Clearwater , plunge in 2004 , exact to have over $ 7.4 trillion of plus on its platform . Notable customers include J.P. Morgan Asset Management , Facebook , Cisco , and Oracle .
