US buyout firm Thoma Bravo has made a takeover offer for Clearwater Analytics, the Boise-based investment software company, which would see the firm taken private, according to a report by Reuters citing people familiar with the matter.
The terms of the proposal have not been disclosed, and sources cautioned that it may not result in a sale. Permira and Warburg Pincus have also recently submitted a joint bid for the firm.
Clearwater, which floated in 2021 at a valuation of approximately $5.5bn and currently trades near a market capitalisation of $5.7bn, has seen its share price under pressure this year as investor sentiment towards SaaS companies wavers amid concerns around artificial intelligence disruption.
