Clearwater Analytics (CWAN) and Enfusion (ENFN) have entered into a definitive merger agreement, whereby Clearwater will acquire Enfusion. Shareholders of Enfusion are set to receive a total consideration of $11.25 per share, comprised of $5.85 per share in cash and $5.40 per share in Clearwater Class A stocks. The transaction involves Clearwater disbursing approximately $760 million in cash and issuing between 23 million and 28 million new shares to Enfusion shareholders. Additionally, Clearwater will provide $30 million to dissolve Enfusion's tax receivable agreement. This acquisition represents a total purchase price of approximately $1.5 billion.
Clearwater stated that the merger with Enfusion significantly advances its strategy of creating the first comprehensive cloud-native platform designed for the entire investment management sector.
