Clearwater Analytics to acquire Enfusion in $1.5 billion deal

(Reuters) -Clearwater Analytics has agreed to acquire investment management platform Enfusion in a $1.5 billion cash-and-stock deal, the companies said on Monday.

Enfusion shareholders will receive $5.85 in cash and $5.40 in Clearwater stock for each share, valuing the company at $11.25 per share, a 13% premium to its last close.

Reuters had exclusively reported last year that Chicago-based firm was exploring options including a sale.

J.P. Morgan Securities and Kirkland & Ellis advised Clearwater Analytics, while Goldman Sachs and Dechert advised Enfusion’s special committee.