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Private equity firms Permira and Warburg Pincus have agreed to acquire investment and accounting software provider Clearwater Analytics in an $8.4 billion transaction, including debt, taking the company private.
Under the terms of the deal, Clearwater shareholders will receive $24.55 per share in cash, representing a 47% premium to the company’s share price prior to reports of a potential sale. Minority investors in the transaction include Francisco Partners and Temasek.
The agreement includes a go-shop period running through January 23, 2026, allowing Clearwater to solicit alternative acquisition proposals, with a possible extension under certain conditions. The transaction is expected to close in the first half of 2026, subject to customary approvals.
Founded in Boise, Idaho, Clearwater provides cloud-based software that enables organizations to aggregate investment data and perform portfolio accounting and analytics on a single, multi-tenant platform. The company’s architecture supports AI-driven tools designed to deliver more timely and detailed portfolio insights.
Permira and Warburg Pincus were longtime backers of Clearwater and helped take the company public in 2021. While they reduced their holdings over time, both firms remained majority owners following the IPO. The take-private move comes after activist investor Starboard Value disclosed a near-5% stake, citing concerns around valuation and acquisition integration.
Source: CNBC
