Clearwater Analytics To Acquire Beacon And Blackstone's Bistro

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(RTTNews) - Clearwater Analytics Holdings, Inc. (CWAN), a software-as-a-service fintech company, Wednesday said it has agreed to acquire financial technology firm Beacon, as well as Bistro, Blackstone's portfolio visualization software platform.

Clearwater will acquire Beacon for about $560 million, 60 percent of which will be paid in cash, and the rest in Clearwater Class A stock.

The purchase price for Bistro is $125 million, of which $10 million will be paid in cash and the remainder will be paid in Clearwater Class A shares.

The company plans to use the proceeds from its previously committed 800 million Term Loan B, cash on hand, and a portion of its $200 million revolving line of credit to fund the acquisitions of Beacon and Bistro and the previously announced acquisition of Enfusion.

"With this combination, Chief Investment and Chief Risk Officers will have a unified, real-time view of their entire portfolio—from public equities and private credit to structured products and alternatives—all in a single, cloud-native platform. The Clearwater platform will allow them to drill down and comprehensively understand their exposure to a company, industry or geography across all their investments, public and private. That will, in turn, allow them to model their entire portfolio, evaluate cash flows and understand risk," said Sandeep Sahai, CEO at Clearwater Analytics.