- Acquisition supported by Francisco Partners, with participation from Temasek
- Stockholders receive $24.55 per share
Boise, Idaho – June 25, 2026 Clearwater Analytics (“CWAN”, “Clearwater” or the “Company”), today announced the completion of its previously announced acquisition, a transaction valued at approximately $8.4 billion, by a Permira and Warburg Pincus-led Investor Group (the “Investor Group”). The transaction was supported by Francisco Partners, with participation from Temasek. With the completion of the acquisition, Clearwater’s Class A common stock no longer trades on the New York Stock Exchange.
Under the terms of the agreement, Clearwater stockholders received $24.55 per share in cash, representing an approximately 47% premium over the Company’s undisturbed share price on November 10, 2025, the last trading day prior to media reports regarding a potential transaction.
The transaction followed a thorough review process overseen by a Special Committee of independent and disinterested members of the Clearwater Board of Directors, which unanimously recommended approval of the transaction. The transaction was approved by the Board and Clearwater’s stockholders (including a majority of votes cast by disinterested stockholders).
The transaction positions Clearwater to accelerate investment in its AI roadmap and next-generation platform. Clearwater’s data foundation, a single, real-time view of every asset across public and private markets, is what makes that roadmap possible. As a private company, with the full backing of the Permira funds and Warburg Pincus, Clearwater gains the flexibility to build on that foundation faster and take its agentic capabilities further for the institutional investors who trust it with over $10 trillion in assets globally.
“We have built Clearwater on a conviction that most of the industry thought was too ambitious: that investment teams deserve a single, real-time view of everything they own, every asset, every day, across every market. Innovation and disruption have been the key drivers of growth for over a decade,” said Sandeep Sahai, CEO at Clearwater Analytics. “Our ability to focus on scaling our current platform while building a Gen AI agentic platform is meaningfully enhanced by going private. Our clients depend upon us to be stewards of the platform they use, and our investments will ensure that they remain at the forefront of technological innovation for running their business.”
Advisors
J.P. Morgan acted as financial advisor, and Kirkland & Ellis LLP served as legal counsel, to CWAN. PJT Partners served as the exclusive financial advisor, and Cravath, Swaine & Moore LLP served as legal counsel, to the Special Committee of the CWAN Board of Directors. Goldman Sachs & Co. LLC acted as financial advisor to the Investor Group. Private Credit at Goldman Sachs Alternatives provided 100% committed debt financing to the Investor Group. Latham and Watkins LLP served as M&A counsel to the Investor Group. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as finance counsel to the Investor Group.