Clearwater To Acquire Enfusion - Quick Facts

(RTTNews) - Clearwater Analytics (CWAN) and Enfusion (ENFN) announced a definitive merger agreement for Clearwater to acquire Enfusion. Enfusion shareholders will receive consideration equal to $11.25 per share consisting of $5.85 per share in cash and $5.40 per share in Clearwater Class A stock. Clearwater is expected to pay a total of approximately $760 million in cash and issue between approximately 23 million and 28 million new shares to Enfusion shareholders. Also, Clearwater will pay $30 million to terminate Enfusion's tax receivable agreement. This equates to a purchase price of approximately $1.5 billion.

Clearwater said the acquisition of Enfusion accelerates Clearwater's vision of building the first cloud-native front-to-back platform for the entire investment management industry.