Hg to acquire OneStream for $6.4 billion in all-cash transaction

OneStream Inc. (NASDAQ: OS) announced it has entered into a definitive agreement to be acquired by Hg, a software investment firm, for approximately $6.4 billion in an all-cash transaction.

Under the agreement, OneStream shareholders will receive $24.00 per share in cash. The purchase price represents a 31% premium to OneStream's closing share price on January 5, 2026, and a 27% premium to its 30-day volume-weighted average share price ending the same date.

Hg will become OneStream's majority voting shareholder, with General Atlantic and Tidemark serving as minority investors. The transaction has been unanimously approved by OneStream's board of directors and approved by KKR, which holds a majority of OneStream's voting power.

"Today marks a pivotal moment for OneStream and our vision to be the operating system for modern Finance," said Tom Shea, OneStream's CEO. "Through this partnership, we are able to significantly advance our AI-first go-to-market strategy and expand our Finance AI capabilities at a rapid pace."

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions. Upon completion, OneStream will become a privately held company and its Class A common stock will no longer trade on public exchanges.

OneStream's current leadership team will remain in place, with Shea continuing as CEO. The company will maintain its headquarters in Birmingham, Michigan.

KKR, which took OneStream public in 2024, owns investment funds that hold shares in the company. The transaction does not require additional shareholder approval.

OneStream operates an enterprise finance management platform serving over 1,700 customers, including 18% of the Fortune 500 companies. The company plans to release its fourth quarter and fiscal year 2025 results in February 2026 but will not hold a corresponding conference call due to the pending transaction.

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