Acquisition to Gas Clearwater’s European Growth and Enable Route to Complete Cloud-Primarily based Front-to-Again Financial commitment Lifecyle Answer
BOISE, Idaho, Sept. 29, 2022 /PRNewswire/ — Clearwater Analytics Holdings, Inc. (NYSE: CWAN), a primary supplier of SaaS-based mostly investment decision accounting, reporting, and analytics solutions, now introduced that it has entered into an agreement that will direct to the acquisition of Paris, France-primarily based Leap Technologies. This transaction will vastly develop Clearwater Analytics’ abilities in financial commitment administration and functions with a entire front-to-again option. Clearwater expects the acquisition to close inside of the following two months.
Jump Know-how, whose customers incorporate marketplace leaders Rothschild & Co Asset Management, Groupama, Groupe VYV, APICIL Asset Administration, and Moneta Asset Management, has produced an impressive, modular, technology system that is dedicated to the financial commitment administration industry spanning financial commitment professionals, hedge money, personal banking companies, spouse and children offices, insurers, and institutional investors.
The Leap option addresses the complete financial commitment management benefit chain, for a wide selection of economical devices, in a solitary computer software system combining Info Administration, Entrance-Center-Again business office, and reporting abilities. JUMP’s modular strategy lets consumers to use a certain alternative for a particular company need — PMS, OMS, Performance Attribution, NAV, Device Joined Funds, Reporting or for the full Front-to-Back again worth chain.
The acquisition will allow for Clearwater to offer you an revolutionary, finish-to-end system for the hedge fund and expenditure management field. Combined with Clearwater Prism, it will provide an company-course answer for financial commitment professionals of all dimensions.
The modular character of the Leap platform will let existing purchasers and prospective clients of Clearwater to employ superior overall performance and attribution capabilities and most effective-in-course front-office environment modules that will integrate with the Clearwater system, even though clients in Europe will get total finish-to-close capabilities for unit linked money.
“This acquisition furthers Clearwater’s journey to become a multi-product firm, provides us quick scale in Europe, and expands our giving to protect the whole financial investment lifecycle,” said Sandeep Sahai, CEO at Clearwater Analytics. “I have had the pleasure of obtaining to know Jump founder Emmanuel Fougeras and his staff and their commitment to innovation and creating the best platform for their customers is remarkable. We glance ahead to welcoming JUMP’s staff and consumers to the Clearwater family, and alongside one another, developing an marketplace-disrupting management placement in the marketplace.”
“We are delighted to be part of the Clearwater loved ones and combine our planet-course engineering with a world wide go-to-marketplace motor,” explained Emmanuel Fougeras, Founder and CEO at Leap Technologies. “Clearwater shares our passion for constructing innovative systems that enrich the customer working experience and allows asset professionals and insurers to develop confidently. I can’t consider of a greater area for our staff to proceed our mission and make JUMP’s technological innovation available to a world wide buyer foundation.” Emmanuel Fougeras will keep on to direct the Leap technological know-how group subsequent the acquisition.
The terms of a customary French set and exclusivity agreement will lead to the invest in of Soar Technological innovation for 75 million euros, with staff members and owners to acquire up to 3.8 million limited stock models in Clearwater to be earned above four years from their grant day. The acquisition will add 100 workers serving 70 prospects throughout Europe. Leap Technology acquired 12.1 million euros in revenue in 2021 on an IFRS basis. The transaction is expected to close in the fourth quarter of 2022, issue to completion of French regulatory needs and other closing disorders. Offered the timing of closing, the transaction is at this time predicted to have a de minimis affect on Clearwater Analytics’ revenues in Q4 2022.
Clearwater Analytics will host a meeting phone on September 29, 2022, at 5:00 p.m. ET as a result of a live webcast obtainable on the Company’s trader relations web-site. Members have to visit buyers.clearwateranalytics.com to hear to this reside webcast. A replay of the webcast will be offered on the Company’s investor relations website.
About Leap Know-how
Bounce Technology is a application organization that is 100% committed to the investment decision management industry: financial commitment management corporations, personal financial institutions, family members places of work, insurers, and institutional traders. Although customized for every sector group, the Leap remedy handles the complete investment decision management value chain, across a wide variety of fiscal instruments, in a solitary software package system combining info management, Front-Center-Back again place of work, and reporting abilities. Its modular solution makes it possible for you to use the remedy for a distinct enterprise require (PMS, OMS, Reporting, Info Management, Effectiveness Attribution, NAV, Compliance, Accounting, and so forth.) or for the total Front-to-Back again benefit chain.
Bounce Technologies is existing in France and other nations in Europe. Its platform can be deployed on-premises or in the cloud and is acceptable for marketplace players of any sizing.
About Clearwater Analytics
Clearwater Analytics is a worldwide sector-primary SaaS answer for automated financial investment facts aggregation, reconciliation, accounting, compliance, danger, efficiency, and reporting. Every day, the Clearwater solution reviews on additional than $5.9 trillion in assets for clients that include top insurers, asset administrators, firms, pension plans, governments, and nonprofit companies – encouraging them make the most of their expense portfolio facts with a world-class item and consumer-centric servicing. Investment professionals all over the globe trust Clearwater to produce well timed, validated financial investment information and analytics. Additional facts about Clearwater can be uncovered at clearwateranalytics.com, LinkedIn, and Twitter.
Use of Ahead-Hunting Statements
This press launch contains “forward-hunting statements” in just the that means of the safe and sound harbor provisions of the Non-public Securities Litigation Reform Act of 1995. These ahead-wanting statements are primarily based on management’s beliefs and assumptions and on info at the moment out there to administration. Ahead-searching statements consist of details about the Company’s and Bounce Technology’s attainable or assumed long run benefits of functions, organization methods, technological innovation developments, funding and investment ideas, dividend plan, competitive position, sector, economic and regulatory ecosystem, probable expansion opportunities and the results of competitors. Forward-hunting statements include things like statements that are not historic specifics and can be identified by phrases these types of as “anticipate,” “consider,” “could,” “estimate,” “be expecting,” “intend,” “may,” “prepare,” “possible,” “predict,” “venture,” “search for,” “should,” “will,” “would” or identical expressions and the negatives of these phrases, but are not the distinctive indicates of identifying these statements.
Ahead-wanting statements involve recognised and unknown threats, uncertainties, and other variables, quite a few of which are outside of Clearwater Analytics’ management, that may bring about the Firm’s and Bounce Technology’s actual final results, general performance, or achievements to be materially distinct from any foreseeable future outcomes, overall performance or achievements expressed or implied by the forward-on the lookout statements. These threats and uncertainties may bring about genuine success to differ materially from Clearwater Analytics’ latest anticipations and include, but are not confined to, the Firm’s skill to properly combine the functions and technology of Bounce Technological innovation with people of the Business, keep and incentivize the management of Jump Technological know-how subsequent the near of the acquisition, keep the clients of Jump Engineering and correctly shut the acquisition of Leap Know-how, as properly as other challenges and uncertainties thorough in Clearwater Analytics’ periodic community filings with the SEC, including but not confined to these discussed below “Chance Factors” in the Company’s Annual Report on Form 10-K for the yr ended December 31, 2021 submitted on March 16, 2022, and in other periodic stories submitted by Clearwater Analytics with the SEC. These filings are offered at www.sec.gov and on Clearwater Analytics’ web site.
Offered these uncertainties, you need to not area undue reliance on ahead-searching statements. Also, ahead-on the lookout statements symbolize management’s beliefs and assumptions only as of the day of this push release and ought to not be relied upon as representing Clearwater Analytics’ expectations or beliefs as of any date subsequent to the time they are made. Clearwater Analytics does not undertake to and precisely declines any obligation to update any ahead-wanting statements that might be manufactured from time to time by or on behalf of Clearwater Analytics.
Supply Clearwater Analytics, LLC