Weave Communications, Inc. has entered into a definitive agreement to be acquired by Francisco Partners in a transaction with an aggregate equity valuation of approximately $650 million. Under the terms of the agreement, Weave stockholders will receive $7.40 per share in cash. The purchase price represents a premium of approximately 34% over Weave’s unaffected closing stock price on Aug. 17, 2026, the last full trading day before the transaction was announced.
If the acquisition is completed, Weave will cease trading on the New York Stock Exchange and become a privately held company. The company will continue operating under the Weave name and maintain its headquarters in Lehi, Utah.
“Since our founding in 2008, we have built Weave for a customer most software companies overlook — the independent practices that care for patients in communities across the country. More than 40,000 locations rely on us today,” said Brett White, chief executive officer of Weave. “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. Today’s announcement represents a compelling outcome for our stockholders, and we look forward to partnering with Francisco Partners, who have an extensive track record in successfully scaling companies at the intersection of vertical software and healthcare, in the next phase of Weave’s journey.”
Weave’s board of directors unanimously approved the transaction following an evaluation of strategic alternatives and discussions with multiple strategic and financial parties.
“The Weave Board conducted a thorough evaluation of strategic alternatives and spoke with a number of strategic and financial parties. The transaction with Francisco Partners delivers a substantial premium and compelling, certain cash value to our stockholders. The Board unanimously determined that this transaction represents the best path forward for Weave and recommends that stockholders vote in favor of the transaction. On behalf of the entire Board, I want to thank Brett and the Weave team for building a business that has achieved this outcome and is positioned for continued growth,” said Stuart C. Harvey Jr., chair of the Weave board of directors.
“Weave is ideally positioned to capitalize on the healthcare industry’s large and growing demand for AI to help optimize their practices and services,” said Ezra Perlman, co-president at Francisco Partners. “Its vertical platform sits at the center of how tens of thousands of practices communicate with their patients and collect revenue, a position that is difficult to build and harder still to replicate.”
Nick Nelson, principal at Francisco Partners, said, “Weave has built a differentiated platform, and we see significant opportunity to build on that position through continued product innovation and by expanding the value Weave delivers to its customers. We are excited to partner with the entire team for the next chapter of Weave’s growth.”
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions, including approval by Weave stockholders and receipt of required regulatory approvals. As of the date of the agreement, no Weave executive officer had entered into an agreement with Francisco Partners to roll over equity, invest alongside the buyer, or acquire an equity interest in the surviving company.
Founded in 2008, Weave provides an AI-powered patient engagement and payments platform for healthcare practices. Its technology includes voice and text patient communications as well as functions involving scheduling, insurance verification, and payments. The company serves more than 40,000 customer locations.
Francisco Partners has invested in more than 500 technology companies since its launch more than 25 years ago and has raised more than $75 billion in capital to date.
Jefferies LLC is serving as exclusive financial advisor to Weave, with Orrick, Herrington & Sutcliffe LLP serving as legal counsel. Kirkland & Ellis LLP is serving as legal counsel to Francisco Partners.
