At what enterprise value was CLEARWATER ANALYTICS acquired in 2026?

During the acquisition of CLEARWATER ANALYTICS by PERMIRA / WARBURG PINCUS in 2026, the company was valued at an estimated revenue multiple of 10x - 18x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of CLEARWATER ANALYTICS when it was acquired by PERMIRA / WARBURG PINCUS?

The estimated EV/EBITDA multiple for CLEARWATER ANALYTICS is in the range of Above 20x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

What was the revenue of CLEARWATER ANALYTICS at the time of the deal?

The revenue of CLEARWATER ANALYTICS at the time of the deal is estimated to be in the range of 450M - 900M USD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of CLEARWATER ANALYTICS during the acquisition?

CLEARWATER ANALYTICS's EBITDA is estimated to be in the range of 150M - 250M USD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the CLEARWATER ANALYTICS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the CLEARWATER ANALYTICS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.permira.com/news-and-insights/announcements/clearwater-analytics-completes-84-billion-take-private-acquisition-by-permira-and-warburg-pincus

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Home Database TMT (Tech, Media, Telecom)CLEARWATER ANALYTICS

06/2026

CLEARWATER ANALYTICS acquired by PERMIRA & WARBURG PINCUS

UNITED STATES Software / Industry-Specific Software / Financial Services / Banking EV 3b - 100b USD

Context

Clearwater Analytics has been acquired by an Investor Group led by Permira and Warburg Pincus, with participation from Francisco Partners and Temasek. The transaction was presented to Clearwater’s shareholders following a special committee review and received board approval and majority shareholder consent, resulting in the delisting of the company’s Class A common stock from the New York Stock Exchange. The acquisition provides the private‑equity consortium with full ownership, enabling the infusion of capital and strategic guidance aimed at accelerating Clearwater’s artificial‑intelligence roadmap and next‑generation platform development. By taking the company private, the new owners can allocate resources without public‑market constraints, deepen the data foundation that underlies the platform, and expand agentic capabilities that serve institutional investors managing extensive asset portfolios. Post‑closing, Clearwater is expected to increase investment in research and development, shorten product release cycles, and broaden its AI‑driven analytics suite. The ownership structure should facilitate cross‑portfolio synergies, enhance operational efficiency, and strengthen the firm’s position in the global investment‑management technology market, potentially expanding its client base and service depth across multiple regions.

CLEARWATER ANALYTICS, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Clearwater Analytics is a cloud‑based provider of investment accounting, performance measurement, risk analytics and compliance solutions for institutional investors. The company aggregates data from public and private markets to deliver a single, real‑time view of every asset held by its clients, enabling daily portfolio monitoring and reporting. Its platform supports a subscription model that charges users for access to data feeds, analytics modules and integration tools. Clients include asset managers, pension funds, insurance companies, sovereign wealth funds and other entities that manage large, diversified portfolios. Clearwater’s technology stack incorporates automated data ingestion, normalization engines and a configurable analytics layer that can be tailored to specific investment strategies. The firm operates a data foundation that underpins its roadmap for artificial‑intelligence‑driven analytics, allowing users to apply predictive models and scenario analysis across the full asset universe. Headquartered in Boise, Idaho, Clearwater serves a global client base with data centers and support operations located in North America, Europe and Asia. The company’s business model emphasizes recurring revenue, high client retention, and continuous platform enhancements driven by client feedback and regulatory requirements.

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REFERENCES

Valuation range: EV 3b - 100b USD

Revenue range: 450M - 900M USD

EBITDA range: 150M - 250M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CLEARWATER ANALYTICS by PERMIRA / WARBURG PINCUS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: clearwater analytics

Acquirer: permira / warburg pincus