Weave’s $650 Million Acquisition Moves Forward After Shareholder Approval
Key Facts
Francisco Partners’ acquisition of Weave, which valued its equity at about $650 million, moved forward after the company’s shareholders approved the merger agreement at a special meeting held on October 22, 2026. According to Weave’s filing with the U.S. Securities and Exchange Commission, 58,845,446 shares voted in favor of the agreement, while 2,324,059 voted against it and holders of 42,770 shares abstained. The agreement announced on August 18 provides for $7.40 in cash for each share. The acquisition makes the company privately owned, according to the closing announcement, which also said trading in the stock had ceased. The approval followed the company’s satisfaction of a regulatory condition in September, completing key milestones ahead of closing.
Francisco Partners and Weave announced the definitive agreement on August 18, 2026, setting total equity value at about $650 million and cash consideration at $7.40 per share. That amount is the agreed consideration for each share, while the $650 million figure reflects the company’s equity valuation in the deal. The shareholder vote on October 22 came about two months after the agreement was announced. The results showed broad support among shares voted, with separate tallies for votes in favor, against and abstentions. According to the company’s filing, the waiting period under the Hart-Scott-Rodino Act was terminated early on September 21, satisfying one of the deal’s regulatory conditions.
Weave operates in healthcare software and describes itself as an integrated customer experience and payments platform for small and midsize healthcare businesses. Founded in 2008, the company offers its products to healthcare practices. The company said its platform is used at more than 40,000 locations, according to the deal announcement. After the acquisition, Weave will continue operating under its current name, with its headquarters remaining in Lehi, Utah. The deal comes amid investment in software that combines patient engagement and payments in services aimed at healthcare providers.
Weave’s chief executive said the new ownership would strengthen the company’s ability to invest in its AI platform and develop its payments and revenue cycle management businesses. He added that the company looked forward to continuing to innovate its products, according to its original statement included in its SEC filing. Weave shares, listed under the ticker WEAV, closed at $7.40 on October 23, according to EL7 data. That close came after the shareholder vote on October 22, while the closing announcement said trading in the stock had ceased following completion of the deal. The company said in a September 21 filing that closing was expected in the fourth quarter of 2026, subject to closing conditions and shareholder approval.