Francisco Partners Completes Weave Acquisition in Deal Valued at About $650 Million in Cash
Key Facts
Weave announced on October 26, 2026, that Francisco Partners had completed its acquisition of the company in a cash deal valued at about $650 million. The healthcare software company has moved into private ownership after being listed on the New York Stock Exchange. The company said the deal had closed and its common stock had stopped trading and was no longer listed on the exchange. The closing ends its period of public trading and opens a new phase of private operation under its new owner. The announced value is based on an approximate deal estimate, while the merger agreement sets the cash consideration shareholders receive for each share.
The merger agreement provides for $7.40 in cash for each Weave share. That consideration represents a premium of about 34% to the stock’s unaffected closing price on August 17, 2026, the last full trading day before the agreement was announced. The price gives shareholders a defined cash payment instead of retaining stakes in a listed company after the deal closes. Weave entered into the merger agreement on August 18, 2026, according to its filing with the U.S. Securities and Exchange Commission. The comparison with the closing price before the announcement shows the size of the premium disclosed in the deal terms.
The deal did not close immediately after it was announced; Weave reported that closing was subject, among other things, to shareholder approval and the expiration of the waiting period under the Hart-Scott-Rodino Act. On September 21, 2026, early termination of the waiting period under the act was granted, according to the company’s filing. That satisfied one of the regulatory conditions tied to the deal. After completing the procedures, Weave announced the acquisition’s closing on October 26. The agreement thus moved from announced conditions in August to an actual closing in October.
Weave offers an AI-powered patient engagement and payments platform, handling patient interactions through voice and text messages. Chief Executive Brett White said more than 40 thousand locations rely on the company to deepen their relationships with patients through automated communication and engagement solutions. That figure refers to customer locations using Weave’s services, not the number of clinics served by the company. The platform combines communication tools and payment solutions in a product aimed at healthcare practices. These operations will continue after the acquisition under the Weave name.
Weave’s results for the second quarter of 2026 showed growth in revenue and free cash flow before the deal closed. Revenue was $67.5 million, up 15.5% year over year compared with the second quarter of 2025. Free cash flow was $8.7 million for the quarter, up $4.2 million from the same period a year earlier. These figures provide financial context for the company’s performance before its move to private ownership. The deal’s closing does not change the fact that these results relate to the second quarter of 2026, as reported in the earnings statement filed with the Securities and Exchange Commission.
Weave said Francisco Partners’ support and resources position the company to deliver greater value to the practices it serves. Its statement said: "With the support and resources of Francisco Partners, we are well positioned to deliver greater value to the practices we serve." The investor’s representative pointed to opportunities to continue innovating in the product, while the stated focus is on developing the company’s offering for its customers. Weave will continue operating as a private company under its current name, with its headquarters remaining in Lehi, Utah. The statement thus sets out the framework for the next phase: operating under the Weave name and from its current headquarters, with the support of Francisco Partners.