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AMERISAFE, INC.

(AMSF)
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Welsh Carson-backed Clearwater Analytics files for U.S. IPO

08/30/2021 | 02:33pm EDT

Aug 30 (Reuters) - Clearwater Analytics, an investment management software company backed by buyout firm Welsh Carson, filed paperwork with U.S. regulators for an initial public offering (IPO) on Monday.

The Boise, Idaho-based company did not reveal the terms of its offering in its filing https://www.sec.gov/Archives/edgar/data/1866368/000119312521260325/d179113ds1.htm#rom179113_17, which showed a 24% year-over-year growth in revenue for the six months ended June 30.

Clearwater makes software that helps financial and other companies manage their investment portfolios.

Welsh Carson was exploring the sale of Clearwater for around $2 billion in August last year, Reuters had reported https://www.reuters.com/article/us-clearwater-m-a-idUSKCN2502K7, citing people familiar with the matter.

Options that were being considered, beyond a sale, included an initial public offering or recapitalization to support the company's ongoing expansion in Europe and Asia.

Private equity firms Permira and Warburg Pincus have also invested in Clearwater, which has offices in the United States, United Kingdom, Singapore and India.

The company aggregates and reports on more than $5.6 trillion assets globally for over 1,000 clients, its filing showed. Its clients include Cisco Systems Inc, Facebook Inc, Oracle Corp and Sompo Holdings Inc , according to its website.

Bloomberg was the first to report https://www.bloomberg.com/news/articles/2021-07-20/clearwater-analytics-said-to-weigh-ip0-at-4-billion-plus-value?srnd=premium-asia&sref=2h1zKciy that the company was targeting a valuation of more than $4 billion in its IPO.

Clearwater plans to list on the New York Stock Exchange under the ticker symbol "CWAN".

Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead bookrunners for the IPO. (Reporting by Sohini Podder in Bengaluru; Editing by Ramakrishnan M. and Amy Caren Daniel)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMERISAFE, INC. -0.43% 57.26 Delayed Quote.0.14%
CISCO SYSTEMS, INC. -0.11% 55.19 Delayed Quote.23.46%
FACEBOOK INC 3.26% 335.34 Delayed Quote.18.89%
MORGAN STANLEY -0.71% 101.41 Delayed Quote.49.04%
MSCI SINGAPORE (GDTR) 0.53% 6764.805 Real-time Quote.16.23%
ORACLE CORPORATION 1.24% 96.51 Delayed Quote.47.36%
SOMPO HOLDINGS, INC. 0.26% 5028 End-of-day quote.20.49%
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Financials (USD)
Sales 2021 317 M - -
Net income 2021 73,2 M - -
Net Debt 2021 - - -
P/E ratio 2021 14,7x
Yield 2021 2,02%
Capitalization 1 113 M 1 113 M -
Capi. / Sales 2021 3,52x
Capi. / Sales 2022 3,68x
Nbr of Employees 394
Free-Float 92,2%
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Last Close Price 57,51 $
Average target price 52,67 $
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Gerry Janelle Frost President, Chief Executive Officer & Director
Neal Andrew Fuller Chief Financial Officer & Executive Vice President
Jared A. Morris Chairman
Kathryn Housh Shirley Secretary, Chief Administrative Officer & EVP
Millard E. Morris Independent Director
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