Clearwater Analytics Holdings, Inc. Class A (CWAN)

In July 2025, new options for the March 2026 expiration became available, and the company announced its participation in investor conferences. In November 2025, reports emerged of potential takeover interest, and Clearwater Analytics announced the availability of AI agents and reported on the insurance industry's shift towards alternative investments. On December 22, 2025, Clearwater Analytics approved an $8.4 billion takeover offer led by Permira and Warburg Pincus, with shareholders receiving $24.55 per share in cash, leading to a stock price surge. Shareholder investigations were initiated in late December 2025 and early January 2026, questioning the buyout price. As of December 24, 2025, the stock had been up approximately 35% over the preceding three months, and on January 12, 2026, the stock price experienced a slight decrease of 0.17%.

Clearwater Analytics operates on a subscription-based model, with revenue largely tied to AUM and the number of services utilized by clients. The demand for comprehensive and sophisticated views of global assets is particularly compelling in volatile market environments. Growth drivers include the increasing complexity of financial markets, the adoption of digital technologies, and the desire for automation of low-value tasks. Demand for Clearwater Analytics' products and services is driven by continuous operational and strategic requirements of its clients, rather than exhibiting strong seasonal fluctuations.

Clearwater Analytics Holdings, Inc. is an American SaaS fintech company specializing in automated investment accounting, performance, compliance, and risk reporting solutions. It operates in the financial technology sector, offering a cloud-native platform that centralizes investment accounting, performance, and risk reporting for institutional investors. The company's product offerings include Clearwater Prism, Clearwater LPx, Clearwater MLx, and Clearwater JUMP. Clearwater Analytics has expanded its capabilities through strategic acquisitions.

Clearwater Analytics Holdings, Inc. is headquartered in Boise, Idaho, United States. The company has a global presence with additional offices in London, Edinburgh, New York City, Noida (India), San Jose, Seattle, Washington D.C., Paris, Frankfurt, New Delhi, Singapore, and Hong Kong. Clearwater Analytics serves customers worldwide and has been actively expanding its presence in Europe and the Asia-Pacific region.

Clearwater Analytics has maintained a strong brand reputation, winning the Technology Provider of the Year Excellence Award for the third consecutive year. The company's commitment to innovation and client trust is evidenced by its consistently high gross revenue retention rate. The launch of CWAN GenAI was highlighted as a strategic advantage, reinforcing its position as a leader in cloud-native investment management solutions. Research indicated a strong and growing conviction among regional insurers towards private equity and venture capital investments. The initial market reaction to the acquisition offer was positive, with the stock surging.

Clearwater Analytics Holdings, Inc. is predominantly owned by institutional investors, who collectively hold a significant majority of the company's shares, estimated at 88% or 93%. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Wellington Management Group Llp, Price T Rowe Associates Inc /md/, Wasatch Advisors Inc, William Blair Investment Management, Llc, Bamco Inc /ny/, Blair William & Co/il, Jpmorgan Chase & Co, Permira Advisers Ltd, and Baron Capital Group, Inc. The Vanguard Group, Inc. is noted as the largest shareholder, holding 7.8% of shares outstanding as of January 20, 2025. Wcas XII Carbon Analytics Acquisition LP is identified as the largest individual shareholder. The general public holds approximately a 12% stake in the company.