Weave Communications Inc will be acquired by Francisco Partners for approximately $650 million, the companies announced, a deal that pushed Weave shares up 32.7% in Tuesday premarket trading.
Under the terms agreed by the parties, each Weave stockholder will receive $7.40 in cash per share. That per-share consideration represents roughly a 34% premium to Weave's closing price on August 17, 2026, which the companies identified as the last full trading day prior to the announcement. Once the transaction is completed, Weave will stop trading on the NYSE and will transition to private ownership.
Weave describes itself as an AI-powered patient engagement and payments platform tailored to healthcare practices. Founded in 2008 and based in Lehi, Utah, the company says it serves more than 40,000 locations.
"Together with Francisco Partners, we will be able to enhance our ability to invest in our AI platform, deepen our payments and revenue cycle management capabilities, and further our vision of a better healthcare experience at every practice," said Brett White, Chief Executive Officer of Weave.
Stuart C. Harvey Jr., Chair of the Weave Board of Directors, said the Board conducted a thorough evaluation of strategic alternatives and spoke with a number of strategic and financial parties. The Board unanimously determined that this transaction represents the best path forward for Weave and recommends that stockholders vote in favor of the transaction.
The Weave Board of Directors gave unanimous approval to the deal. The parties expect the transaction to close in the fourth quarter of 2026, subject to customary closing conditions. Those conditions include approval by Weave stockholders and receipt of any required regulatory approvals.
Jefferies LLC is acting as exclusive financial advisor to Weave. Legal counsel to Weave is being provided by Orrick, Herrington & Sutcliffe LLP, while Kirkland & Ellis LLP is serving as legal counsel to Francisco Partners.
For investors and market participants tracking health-technology and payments platforms, the deal represents a definitive path for Weave to pursue further product investment and development under private ownership. The immediate market reaction was pronounced, with a premarket surge reflecting investor response to the cash consideration and premium on offer.
Key procedural milestones remain before closing, and the timetable and completion are contingent on the customary shareholder vote and regulatory clearances referenced by the companies. If completed as outlined, Weave will no longer trade publicly and will operate as a privately held business under Francisco Partners' ownership.