Clearwater Analytics has agreed to acquire Enfusion in a $1.5 billion cash-and-stock deal as the financial software maker looks to bolster its international presence and enter the hedge fund industry.

Clearwater Analytics Holdings Inc. today announced plans to acquire Enfusion Inc., a fellow provider of financial software, for $1.5 billion in cash and stock.

Clearwater Analytics (NYSE: CWAN) ("Clearwater") and Enfusion, Inc. (NYSE: ENFN) ("Enfusion") today announced their entry into a definitive merger agreement for Clearwater to acquire Enfusion, a leader in software-as-a-service (SaaS) solutions for the investment management and hedge fund industry.

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Clearwater Analytics to acquire Enfusion for $1.5 billion in a cash and stock deal, expanding into hedge fund industry with anticipated growth.

In a groundbreaking move set to reshape the investment management software landscape, Clearwater Analytics announced on Monday that it will acquire Enfusion, a leader in software solutions for the hedge fund and investment management sectors,

Clearwater Analytics is software provider Enfusion for about $1.5 billion, creating a front-to-back platform for the investment management industry.

Clearwater Analytics has agreed to acquire rival Enfusion in a $1.5 billion cash-and-stock deal as the financial software maker looks to bolster its international presence and enter the hedge fund industry.