By Milana Vinn NEW YORK, Dec 21 (Reuters) - A group of private equity firms led by Permira and Warburg Pincus has clinched a deal to acquire investment and accounting software maker Clearwater Analytics Holdings (CWAN) ​for about $8.4 billion, including debt, the parties said in a joint statement on Sunday. Permira and Warburg ‌Pincus have agreed to take Clearwater private for $24.55 per share in cash. The deal price offers a premium of 47% on Clearwater's share price ‌of $16.69 on November 10, before n ...

A group of private equity firms led by Permira and Warburg Pincus is in advanced talks to acquire investment and accounting software maker Clearwater Analytics Holdings Inc., according to people familiar with the matter https://t.co/DfEIQoSO9W ...

Core Insights - India's financial services sector, including banks and non-banking finance companies (NBFCs), has experienced record foreign direct investment (FDI) in 2025, indicating strong international interest in the market [1]. Group 1: Major Deals - Shriram Finance has entered into an agreement with MUFG Bank for a 20% stake acquisition valued at ₹39,618 crore, marking the largest FDI in an Indian financial services company [1]. - RBL Bank has signed a deal with Emirates NBD Bank for a 60% stake acquisition through a primary infusion of ₹26,850 crore, aiming to scale its business and enter the big banks league [2]. - Federal Bank's board has sold around 10% stake to Blackstone for ₹6,196.51 crore, further consolidating its position in the market [3]. - YES Bank has secured a deal with Sumitomo Mitsui Banking Corporation (SMBC) for a 20% stake for $1.6 billion, with an additional 4.99% stake acquired later, leading to a rating upgrade for YES Bank [4]. - IDFC FIRST Bank plans to raise up to ₹75 billion from Warburg Pincus and ADIA, which will provide a combined 15% stake in the bank if fully converted [5]. - Sammaan Capital is set to receive a $1 billion investment from Abu Dhabi's IHC for a controlling stake, while Manappuram Finance has secured $508 million from Bain Capital for joint control [6]. Group 2: Market Trends - The Shriram and MUFG deal reflects a trend where global banks prefer partnerships with established NBFCs over pursuing new banking licenses in India, potentially accelerating consolidation in the NBFC sector [7].

Core Insights - The Indian financial sector has experienced significant mergers and acquisitions in 2025, with a total value of $8 billion, representing a 127% increase compared to the same period in the previous year according to Grant Thornton Group 1: Major Deals - MUFG will acquire a 20% stake in Shriram Finance for $4.4 billion, marking the largest cross-border investment in India's financial sector [1] - Emirates NBD plans to buy a 60% stake in RBL Bank for $3 billion, providing access to a wide branch network [2] - SMBC agreed to acquire a 20% stake in Yes Bank for $1.6 billion, with an additional 4.99% stake purchased in September [3] - Blackstone will invest ₹6,197 crore ($705.05 million) in Federal Bank for a 9.9% stake, allowing it to nominate a non-executive director to the board [4] - IHC will invest close to $1 billion for a 43.5% stake in Sammaan Capital, with plans for an open offer to acquire an additional 26% stake [5] - Warburg Pincus and ADIA will invest $877 million in IDFC FIRST Bank through convertible preference shares, resulting in a combined ownership of 15% upon conversion [6] - Bain Capital will acquire an 18% stake in Manappuram Finance for $508 million, with plans to increase its stake to over 40% through an open offer [8] - Bajaj Group repurchased a 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance for $2.8 billion, ending a decade-long partnership with Allianz [9]

Private equity firms including Warburg Pincus and KKR are among potential bidders for Southeast Asian school operator XCL https://t.co/g4K6OulrCW ...

Warburg Pincus agreed to invest in corporate services provider Acclime to help develop the Asia-focused company’s business and expansion https://t.co/RwU6U2Tj15 ...

Warburg Pincus is nearing a deal to acquire Asia-focused corporate services firm Acclime, sources say https://t.co/zsUWh0vmkj ...

Core Insights - WSP Global has signed an agreement to acquire TRC Companies for $3.3 billion, enhancing its capabilities in the power and energy sector [1][2] - The acquisition is expected to close in Q1 2026, subject to regulatory approvals [2] - This strategic move aligns with WSP's 2025-2027 Strategic Plan and aims to position the company as a leader in power and energy consulting [4] Financial Impact - The all-cash deal is valued at $3.3 billion and is projected to add low- to mid-single digit percentage to WSP's adjusted net earnings per share before synergies [2][3] - Post-acquisition, WSP will have approximately 27,000 employees in the US, contributing to 34% of its US revenue [3] Strategic Rationale - The acquisition will broaden WSP's expertise across water, infrastructure, and environmental services, addressing the rising demand for power consumption driven by AI and cryptocurrency sectors [2] - WSP aims to create an integrated platform with industry-leading capabilities in advisory, engineering, and program management through this acquisition [5][6] Advisory and Legal Support - J.P. Morgan and CIBC Capital Markets are serving as financial advisors for WSP, with legal counsel from Skadden, Arps, Slate, Meagher & Flom in the US and Stikeman Elliott in Canada [6] - Harris Williams, UBS Investment Bank, AEC Advisors, and Houlihan Lokey are advising TRC, with legal counsel from Paul, Weiss, Rifkind, Wharton & Garrison [7]

Canada’s WSP reached a deal to buy a US engineering firm from funds controlled by Warburg Pincus with the financial backing of its largest shareholder https://t.co/UIzJg3MSvQ ...

Company Overview - Clearwater Analytics Holdings provides cloud-native platforms for institutional investors, integrating various investment lifecycle functions into a single system [1] - The company serves a diverse clientele, including insurers, asset managers, hedge funds, banks, corporations, and governments [1] - Clearwater has been recognized for its capabilities in complex portfolio management across public and private markets, including structured products and derivatives [1] Activist Involvement - Starboard Value holds approximately 4.9% ownership in Clearwater and is known for its successful activist campaigns, achieving an average return of 36.92% in prior IT company engagements [2][3] - Starboard has urged Clearwater to conduct a thorough sales process if there is inbound interest from potential buyers [3][9] Recent Developments - Clearwater has shifted its strategy by making several acquisitions, including Enfusion and two private businesses, which has raised concerns about its ability to integrate these acquisitions while maintaining organic growth [6][7] - Following these acquisitions, Clearwater's stock price fell to a low of $15.73 per share after its third-quarter earnings report [7] Strategic Options - Clearwater has engaged advisers to evaluate strategic options after receiving unsolicited offers from firms like Thoma Bravo and Warburg Pincus [8] - Starboard's involvement suggests a focus on maximizing shareholder value, whether through a sale or a standalone growth strategy [10][11] Potential Outcomes - There are three potential outcomes for Clearwater: (i) a standalone plan focusing on integration and core growth, (ii) a sale of the company at a satisfactory premium, or (iii) a sale process led by Warburg and Permira [13] - Starboard is likely to support either the standalone plan or a competitive sale process, while opposing a sale orchestrated by existing private equity investors [13]