Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, announced a definitive agreement to acquire risk and performance analytics solutions from Wilshire Advisors, a global financial services firm.

The acquisition includes Wilshire Axiom, Wilshire Atlas, Wilshire Abacus, and Wilshire iQComposite, which provide analytics for fixed income, equity, performance measurement, accounting, and GIPS compliance support. These solutions will be merged with Clearwater’s risk and performance analytics platform.

Clearwater expects to pay approximately $40 million for Wilshire’s assets, adding roughly $7 million in annualized revenue. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.

Following the acquisition, Wilshire will continue to focus on its core retirement, wealth, alternatives, and institutional business lines, and will have access to the analytics software to support its clients.

[Image courtesy:Clearwater Analytics]