Clearwater Analytics acquires software maker Enfusion for $1.5 billion to drive global expansion

FILE PHOTO: Signage for Clearwater Analytics is seen at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., September 24, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) -Clearwater Analytics has agreed to acquire rival Enfusion in a $1.5 billion cash-and-stock deal as the financial software maker looks to bolster its international presence and enter the hedge fund industry.

Enfusion shareholders will receive $5.85 in cash and $5.40 in Clearwater stock for each share, valuing the Chicago-based firm at $11.25 per share, the companies said on Monday.