Clearwater Analytics, an organization that develops accounting, compliance and risk-catering instruments for asset managers, said On Monday, a final agreement for the acquisition of Investment Management Platform Enfusion for 1.5 billion US dollars.
Clearwater, which says that it has received a loan of 800 million US dollars to finance the transaction and a revolving credit line of $ 200 million, the shareholders of Enfusions for the receipt of money, stocks or a mixture make possible. Clearwater expects to pay money of 760 million US dollars and spends between around 23 million and 28 million latest shares in enfusion shareholders.
Both corporate bodies have agreed to the conditions. If the shareholders and supervisory authorities of Enfusion approved it, Clearwater expects that the deal can be accomplished within the second quarter of 2025.
Enfusion based in Chicago was founded in 1997 as a technology and operating consulting company. After the Managing Partners of Enfusion found a spot out there for a portfolio management system, it focused on the introduction of the corporate’s current investment tools.
The enfusion increased enterprise capital of investors, including ICONIQ growth and FTV capital, the 45% of the corporate along with the CEO of Enfusion, Oleg Movchan, 45% of the corporate. After going public in 2021, Enfusion was estimated At 1.9 billion US dollars.
Clearwater claims that his purchase, for which he pays a bonus of 13% in comparison with the share price of Enfusion on January 10, plays a clever role and indicates the newest financial data from Enfusion. Enfusion recorded a short lived sales growth of ~ 15% in 2024 to ~ 201 million $ ~ and preliminary growth of the annual recurring sales of ~ 13% in comparison with the previous 12 months to ~ 210 million.
Clearwater also sees Enfusion as a way of constructing a “front-back platform for the entire investment management industry”. In A Press releaseAccording to Clearwater, it plans to integrate the portfolio and order management technology from Enfusion into its offers and at the identical time expand into the Hedge Fund industry and the geographies by which Enfusion is already present.
Clearwater, which was introduced in 2004, claims to have 7.4 trillion dollars of assets on its platform. Remarkable customers include JP Morgan Asset Management, Facebook, Cisco and Oracle.
