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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sompo Holdings, Inc.    8630   JP3165000005

SOMPO HOLDINGS, INC.

(8630)
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Software firm Clearwater Analytics explores $2 billion sale -sources

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08/04/2020 | 06:15pm EDT

NEW YORK, Aug 4 (Reuters) - Clearwater Analytics is exploring a sale that could value the private equity-owned investment management software firm at around $2 billion, including debt, according to people familiar with the matter.

Welsh, Carson, Anderson & Stowe, the buyout firm which acquired its majority stake in the business in 2016 for an undisclosed amount, has hired an investment bank to review strategic options for Clearwater, according to two of the sources.

Clearwater currently generates around $200 million of revenue annually, according to three of the sources. Options being considered, beyond a sale, include an initial public offering or recapitalization to support its ongoing expansion in Europe and Asia, a separate source said.

The sources spoke on condition of anonymity as the information is not public. Welsh Carson and Clearwater did not respond to requests for comment.

Boise, Idaho-based Clearwater provides software that helps financial firms and other companies manage their investment portfolios, including accounting and reporting tasks.

Clients of Clearwater, which has offices in the United States, the United Kingdom and India, according to its website, include the international arm of Sompo Holdings, Cisco Systems Inc and Facebook Inc.

Technology platforms which aid firms in automating and streamlining processes, known as software-as-a-service (SaaS), are considered attractive investments as businesses seek increased efficiency and lower costs.

Notable fintech SaaS deals so far this year include Plaid's $5.3 billion sale to Visa Inc and Social Finance Inc's (SoFi's) $1.2 billion acquisition of payments software company Galileo Financial Technologies. (Reporting by David French and Krystal Hu in New York; Editing by Nick Zieminski and Tom Brown)

Stocks mentioned in the article
ChangeLast1st jan.
CISCO SYSTEMS, INC. 1.77% 39.13 Delayed Quote.-18.41%
FACEBOOK 0.78% 256.82 Delayed Quote.25.13%
SOMPO HOLDINGS, INC. 3.32% 3825 End-of-day quote.-11.05%
VISA 1.56% 200.32 Delayed Quote.6.61%
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05/15SOMPO HOLDINGS, INC. : annual earnings release
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Financials
Sales 2021 3 667 B 34 746 M 34 746 M
Net income 2021 145 B 1 378 M 1 378 M
Net Debt 2021 500 B 4 738 M 4 738 M
P/E ratio 2021 9,27x
Yield 2021 4,24%
Capitalization 1 372 B 12 992 M 13 001 M
EV / Sales 2021 0,51x
EV / Sales 2022 0,50x
Nbr of Employees 47 535
Free-Float 89,7%
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Technical analysis trends SOMPO HOLDINGS, INC.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 4 675,00 JPY
Last Close Price 3 825,00 JPY
Spread / Highest target 38,6%
Spread / Average Target 22,2%
Spread / Lowest Target 6,93%
EPS Revisions
Managers
NameTitle
Kengo Sakurada President, Group CEO & Representative Director
Shinji Tsuji Group COO, Representative Director & EVP
Masahiro Hamada Group Chief Financial Officer & Director
Shigeru Ehara Director & Senior Managing Executive Officer
Sawako Nohara Independent Outside Director
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