Weave Communications agreed on 18 August to be acquired by Francisco Partners for $7.40 a share in cash, valuing the healthcare practice software company at about $650m.
Why Francisco Partners (Willow Parent) is buying Weave Communications, Inc.
Weave's chief executive, Brett White, said the deal would let the company invest more in its AI platform and deepen its payments and revenue cycle management tools. Francisco Partners' co-president Ezra Perlman said Weave's platform sits at the centre of how tens of thousands of practices communicate with patients and collect revenue.
“The transaction with Francisco Partners delivers a substantial premium and compelling, certain cash value to our stockholders.”
Deal terms and financing
The $7.40 price is a premium of about 34% to Weave's close on 17 August. The board said it evaluated strategic alternatives and spoke with a number of strategic and financial parties. No executive had agreed to roll over equity at signing.
Regulatory approvals and timing
Closing is expected in the fourth quarter of 2026, subject to Weave stockholder approval and regulatory approvals. Weave will then leave the New York Stock Exchange.
Market context
Founded in 2008, Weave says more than 40,000 practice locations use its software. It will keep its name and Lehi headquarters after the deal.
