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Technology > Investment Platforms

Clearwater to Pay $40M for Wilshire's Analytics Products

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Clearwater Analytics, an investment management software-as-a-service company, has entered into a definitive agreement to acquire risk and performance analytics solutions from global financial services firm Wilshire Advisors for $40 million.

Clearwater will acquire Wilshire AxiomSM, Wilshire AtlasSM, Wilshire Abacus and Wilshire iQComposite, which provide fixed income analytics; equity analytics and performance measurement; accounting; and Global Investment Performance Standards compliance support analytics, respectively.

“The strategic acquisition of Wilshire’s AxiomSM, AtlasSM, Abacus, and iQComposite products marks a significant milestone for Clearwater, positioning us to supercharge our clients’ risk and performance capabilities … ,” Clearwater Analytics CEO Sandeep Sahai said in statement.

Clearwater expects to add roughly $7 million in annualized revenue through the deal, which the companies expect will close in the second quarter of 2024, subject to customary closing conditions. Its data is now used to analyze some $7.3 trillion in assets.

The firm will merge the products with its own risk and performance analytics platform and co-brand the solutions as Clearwater Wilshire Analytics. The platform aims to provide enhanced analytical capabilities to investment managers and institutional asset owners, such as public pension plans, insurers, foundations, endowments and others, Clearwater said.

The new Clearwater Wilshire Analytics platform is designed to help clients calculate performance and risk attribution, assist with security-level portfolio construction, uncover new strategies, access high-quality portfolio models, and identify investment opportunities that maximize returns and mitigate risk, the firm added.

“Our team has built a robust, time-tested suite of solutions that delivers actionable insights and continues to represent the gold standard in the industry,” according to Wilshire CEO Andy Stewart. “Clearwater is the ideal steward to expand the business, invest in these capabilities, and accelerate the growth of these analytic tools to serve a wide range of clients.”

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