Clearwater Analytics targets nearly $4 bln valuation in U.S. IPO (updated)

Amerisafe

14/09/2021 14:54

(Adds details on offering, background)
    Sept 14 (Reuters) - Clearwater Analytics, an investment
management software company backed by buyout firm Welsh Carson,
is targeting an enterprise valuation of nearly $4 billion in its
initial public offering in the United States, according to a
regulatory filing https://www.sec.gov/Archives/edgar/data/1866368/000119312521272296/d179113ds1a.htm
 on Tuesday.
     Boise, Idaho-based Clearwater, which makes software that
helps companies manage their investment portfolios, plans to
sell 30 million shares priced between $14 and $16 apiece in the
IPO. At the upper end of the price range, it would raise $480
million. 
    Clearwater, whose revenue grew 24% year-over-year in the six
months ended June 30, counts private equity firms Permira and
Warburg Pincus among its investors. 
    Reuters reported in August last year that Welsh Carson was
exploring options including the sale of Clearwater https://www.reuters.com/article/us-clearwater-m-a-idUSKCN2502K7
 for around $2 billion, besides an IPO. 
    The company aggregates and reports on more than $5.6
trillion assets globally for over 1,000 clients including Cisco
Systems Inc  CSCO.O , Facebook Inc  FB.O , Oracle Corp  ORCL.N 
and Sompo Holdings Inc  8630.T , its filing showed.
    Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead
bookrunners for the offering, after which Clearwater plans to
list on the New York Stock Exchange under the symbol "CWAN."

 (Reporting by Sohini Podder in Bengaluru;
Editing by Vinay Dwivedi)
 ((Sohini.Podder@thomsonreuters.com;))