Clearwater Analytics picks up SaaS business Enfusion in $1.5 billion deal
Summary
Clearwater Analytics is set to acquire Enfusion – a software-as-a-service (SaaS) solutions provider for the hedge fund and investment management industry – for $1.5 billion. This deal is understood to be a key step toward Clearwater’s plan of building the first cloud-native front-to-back platform for the entire investment management industry. “Most importantly, this acquisition enables seamless data management from the front-office to the back-office, unlocking powerful network effects that amplify client value,” said Sandeep Sahai, chief executive of Clearwater Analytics. Enfusion’s front-office capabilities include: IBOR, portfolio and order management, all set to be incorporated into Clearwater’s middle and back-office solutions. Read more: Clearwater picks up Wilshire Advisors’ risk analytics platforms for $40 million Sahai added: “Today’s announcement is about creating a future where our clients benefit from the synergy of two highly complementary, innovative software leaders, paving the way for a unified, cloud-native front-to-back platform that’s primed to serve institutional investors like never before.”