Weave Communications, Inc. announced on August 16 that Francisco Partners has entered into a definitive agreement to acquire the company for an aggregate equity valuation of approximately $650 million. Based in Lehi, Utah, Weave is an AI-powered patient engagement and payments platform designed for healthcare practices.
Under the terms of the agreement, Weave stockholders will receive $7.40 per share in cash. This amount represents a premium of approximately 34% compared to the unaffected closing stock price on August 17, 2026, which was the last full trading day before the transaction announcement. Once the transaction is finalized, Weave will transition to a private company and will no longer trade on the NYSE.
The transaction received unanimous approval from the Weave Board of Directors. The deal is expected to close in the fourth quarter of 2026, pending customary closing conditions such as regulatory approvals and approval from Weave stockholders. Following the acquisition, Weave intends to continue operating under its current name and maintain its headquarters in Lehi.
Francisco Partners is a global investment firm specializing in technology and technology-enabled businesses. Weave, founded in 2008, provides software solutions for small and medium-sized healthcare businesses and currently serves more than 40,000 locations.
