Clearwater Analytics to acquire Enfusion

Clearwater Analytics has announced its agreement to acquire Enfusion, a SaaS provider for the investment management and hedge fund industry, for approximately $1.5 billion.

The deal includes $11.25 per share in a mix of cash and stock, with an additional $30 million allocated to terminate Enfusion’s tax receivable agreement.

The acquisition aims to combine Clearwater’s middle and back-office solutions with Enfusion’s front-office capabilities, creating a unified, cloud-native platform for investment management.

The transaction, expected to close in Q2 2025, is subject to regulatory and shareholder approvals.

“Building on the momentum of our strong Q3 2024 results, we continue to see strong business momentum in Q4, and we are confident in our ability to meet and exceed the guidance provided for the fourth quarter and full year 2024. This outstanding ARR growth allows us to look ahead to 2025 with high confidence. These achievements reflect the durability of our business model and our disciplined approach to growth, which positions us to execute this transformative acquisition effectively. With Enfusion, we are taking a bold step forward, uniting two innovative platforms that will redefine investment management, deliver meaningful efficiencies, and expand our global reach.” – Jim Cox, CFO of Clearwater Analytics.