Clearwater Analytics and Enfusion Set Election Deadline for Shareholders in Upcoming Merger

Clearwater Analytics (NYSE: CWAN) and Enfusion (NYSE: ENFN) announced that Enfusion shareholders must submit their preferred form of merger consideration by 5:00 p.m. ET on April 16, 2025, ahead of Clearwater’s planned acquisition of Enfusion. The deal is expected to close around April 21, 2025, pending shareholder approval and standard conditions.

Shareholders can choose between a combination of cash and Clearwater stock, all stock, or all cash, with values equalized regardless of the form elected. Shareholders holding through banks or brokers may have earlier deadlines and are encouraged to act promptly.

The merger agreement, initially announced in January, outlines terms by which each eligible Enfusion share will convert into the selected form of consideration. Detailed election procedures are included in the proxy statement/prospectus dated March 20, 2025, and shareholders can obtain help via Innisfree M&A Incorporated at (877) 750-0637.

The transaction aims to combine Clearwater’s investment lifecycle SaaS platform with Enfusion’s end-to-end investment management software. The companies expect the merger to enhance operational capabilities and market reach.

Clearwater and Enfusion Set April 16 Deadline for Merger Election
Boise, ID – April 2, 2025 – Clearwater Analytics Holdings, Inc. (NYSE: CWAN) and Enfusion, Inc. announced that April 16, 2025 at 5:00 p.m. ET is the deadline for Enfusion shareholders to elect the form of consideration they wish to receive in Clearwater’s pending acquisition of Enfusion.

Shareholders holding through brokers or nominees may be subject to earlier deadlines. Full details are included in the joint press release (Exhibit 99.1) filed with the SEC.

The companies also reaffirmed that the transaction remains subject to closing conditions and that a combined Proxy Statement/Prospectus has already been distributed to shareholders.

Clearwater Analytics Holdings, Inc. announced it has entered into an Agreement and Plan of Merger to acquire Beacon Platform Incorporated for approximately $560 million, with 60% paid in cash and 40% in Clearwater Class A common stock. The deal includes customary closing conditions and regulatory approvals, with completion expected after April 25, 2025. Additionally, Clearwater has agreed to acquire Blackstone’s Bistro portfolio visualization platform for $125 million, paid in cash and stock. Both transactions aim to enhance Clearwater’s financial analytics capabilities.

Clearwater Analytics Holdings, Inc. (NYSE: CWAN) reported record financial results for the fourth quarter and full year of 2024, driven by strong revenue growth and expanding margins.

For the fourth quarter, revenue reached $126.5 million, a 28% increase year-over-year, with an annualized recurring revenue (ARR) of $474.9 million, reflecting a 25% growth. The company achieved a net revenue retention rate of 116%, demonstrating strong client engagement and expansion. Net income for the quarter was $420.3 million, while adjusted EBITDA grew 39% year-over-year to $41.7 million, with an adjusted EBITDA margin of 33%.

For the full year 2024, revenue totaled $451.8 million, growing 23% from 2023. Net income came in at $427.6 million, with an adjusted EBITDA of $145.7 million, representing a margin of 32.2%.

CEO Sandeep Sahai emphasized the company's strong execution, which allowed it to surpass its financial targets ahead of schedule. He highlighted continued investments in R&D, including Generative AI, and significant growth opportunities in North America, Europe, and Asia. He also noted that Clearwater Analytics' recently announced acquisition of Enfusion would expand its product offerings, enabling the company to provide a comprehensive front-to-back investment management platform.

The company remains focused on scaling operations while delivering value to clients, employees, and shareholders.

Morgan Stanley upgrades CWAN from hold to outperform