Francisco Partners to acquire Weave Communications for $650M

Francisco Partners has agreed to acquire Weave Communications, Inc. (NYSE: WEAV) in an all-cash transaction valuing the company at approximately $650 million, according to a press release from the companies.

Under the terms of the definitive agreement, Weave stockholders will receive $7.40 per share in cash, representing a premium of approximately 34% to Weave's closing stock price on August 17, 2026, the last full trading day before the announcement.

Upon completion of the transaction, Weave will be delisted from the NYSE and become a private company. The company will continue to operate under the Weave name and maintain its headquarters in Lehi, Utah.

Weave, founded in 2008, provides a software platform focused on patient engagement and payments for small and medium-sized healthcare practices. The company serves more than 40,000 customer locations.

The transaction was unanimously approved by Weave's board of directors. It is expected to close in the fourth quarter of 2026, subject to approval by Weave stockholders and required regulatory approvals.

Weave CEO Brett White said the partnership would allow the company to invest further in its AI platform and expand its payments and revenue cycle management capabilities.

Jefferies LLC is serving as financial advisor to Weave, with Orrick, Herrington & Sutcliffe LLP as legal counsel. Kirkland & Ellis LLP is serving as legal counsel to Francisco Partners.

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