Cannae Holdings, Inc. Company Summary

Business Overview

• Cannae Holdings, Inc. is a holding company primarily engaged in managing and operating a diversified portfolio of subsidiaries and investments.
• The company's strategy involves actively managing and operating portfolio companies, including taking majority and minority ownership stakes in high-quality companies with attractive growth opportunities.
• Focus industries include financial services, technology, and other sectors where they leverage operational expertise for long-term growth.

Key Operations and Investments

• Major Portfolio Companies and Investments:
  • Dayforce: Acquired in 2007, transformed from a mainframe business to a cloud-based SaaS company. Went public in 2018. As of 2024, Cannae sold its remaining interest in Dayforce, realizing over $2.8 billion in proceeds and a return of approximately $2.3 billion over the original investment.
  • Dun & Bradstreet (DNB): Sold 10 million shares in 2024 for proceeds of $100.1 million.
  • Paysafe: Sold 0.9 million shares in 2024 for proceeds of $16 million.
  • Alight: Sold 12 million shares in 2024 for proceeds of $89 million.
  • Optimal Blue and CoreLogic: Partial sales completed in 2022 and 2024.
  • Other investments include partial interests in companies like Fleetcor, Remy (later acquired by BorgWarner), and private investments such as BKFC (Bare Knuckle Fighting Championship) and Minden Mill.

Financial Highlights

• Revenue and Income: Not explicitly detailed in the provided excerpt.
• Market Capitalization: As of June 30, 2024, the market value of non-affiliate shares was approximately $1.014 billion, based on a closing stock price of $18.14.
• Employees: The company’s employee count is large, with approximately 8,000 employees working primarily in its restaurant operations (most part-time workers).

Revenue and Profit

• 2024 Financial Data: Specific revenue, net income, or profit figures are not provided in the given text.
• The company's value largely derived from its asset monetizations and investment returns, especially from Dayforce, which contributed over $2.8 billion in realized proceeds over the years.

Corporate and Investment Strategy

• Focuses on active management to create long-term value.
• Seeks to acquire quality companies run by top management in sectors with organic and acquired growth prospects.
• Uses operational expertise, strategic structuring, and active engagement with management to enhance portfolio company performance.
• Prioritizes long-term shareholder value, evidenced by significant realized gains from investments like Dayforce and partial sales of other holdings.

Ownership and Shareholders

• As of April 25, 2025, there were approximately 62.8 million shares of common stock outstanding.
• The company's market value is driven by investor confidence, with non-affiliates holding a significant portion of shares.

Summary

Cannae Holdings, Inc. operates as a diversified investment and management company with a focus on long-term growth through active management of subsidiaries and strategic investments in technology and financial services. Its operations and financial returns are heavily driven by asset monetizations, notably its successful exit from Dayforce, and ongoing investments in high-quality companies.