Clearwater To Buy Risk, Performance Analytics Solutions For Around $40 Mln From Wilshire Advisors

(RTTNews) - Clearwater Analytics Holdings, Inc. (CWAN), a SaaS-based financial technology firm, announced on Tuesday that it has inked a deal to acquire risk and performance analytics solutions from Wilshire Advisors LLC, a financial services firm.

Clearwater expects to pay roughly $40 million for Wilshire's assets while adding around $7 million in annualized revenue.

The transaction, to be closed in the second-quarter, will allow Clearwater to acquire Wilshire AxiomSM, Wilshire AtlasSM, Wilshire Abacus, and Wilshire iQComposite from Wilshire.

These will provide fixed income analytics, equity analytics and performance measurement, accounting, and GIPS compliance support analytics, respectively.

The partnership, which will be co-branded as Clearwater Wilshire Analytics, will allow both companies to provide enhanced analytical capabilities for investment managers, asset owners, and others.