1128 ET - Clearwater Analytics Holdings' latest deal comes with some risk but is very strategic and likely to advance its technology roadmap by several years, D.A. Davidson's Peter Heckmann says in a research note. The company struck a deal to buy software company Enfusion in a deal worth $1.5 billion, bolstering its efforts to build a cloud platform for the investment-management industry. Heckmann says Enfusion will bring advanced front-office capabilities that are already deployed by many hedge funds. When combined with Clearwater's middle and back-office solutions and other offerings, it will enable a unified, cloud-native platform, he adds. Shares fall 4.7% to $25.77. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 13, 2025 11:28 ET (16:28 GMT)
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