A group of private equity firms led by Permira and Warburg Pincus has clinched a deal to acquire investment and accounting software maker Clearwater Analytics Holdings for about $8.4 billion, including debt, the parties said in a joint statement on Sunday. Permira and Warburg Pincus have agreed to take Clearwater private for $24.55 per share in cash. The deal price offers a premium of 47% on Clearwater’s share price of $16.69 on November 10, before news reports of a potential sale.
The deal, which was announced on Sunday, includes the participation of several minority investors, including Francisco Partners and Temasek. “Both firms understand our business and the technology industry and have proven track records fostering growth for some of the largest and fastest-growing technology businesses globally,” Clearwater CEO Sandeep Sahai said. The deal provides for a “go-shop” period ending January 23, 2026, during which Clearwater may solicit and evaluate alternative acquisition proposals, with a possible 10-day extension for certain bidders. The transaction is expected to be completed in the first half of 2026, after which the investment and accounting software maker will become a privately held company.
