Francisco Partners completed its acquisition of Weave Communications on Monday, Oct. 26, 2026, in an all-cash transaction valued at approximately $650 million. The deal moves the Lehi, Utah-based healthcare engagement platform into private ownership, ending its listing on the New York Stock Exchange.
Terms of the Merger Agreement
The merger agreement stipulates that Weave stockholders will receive $7.40 per share in cash. This amount represents a premium of approximately 34% compared to the company's unaffected closing stock price on Aug. 17, 2026, which was the last full trading day before the transaction was announced. Following the completion of the deal, Weave's common stock has ceased trading.
Future Operations and Headquarters
According to Weave, the company will continue to operate as a privately held entity under the Weave name. The company will maintain its corporate headquarters in Lehi, Utah. The acquisition is intended to accelerate investment in the company's AI-powered platform designed for healthcare practices.
Healthcare Platform Capabilities
Weave provides an AI-powered patient engagement and payments platform specifically for modern healthcare practices. The company's software handles patient interactions via voice and text and integrates with practice management systems to manage tasks such as scheduling, insurance verification, and payments. The platform currently serves more than 40,000 customer locations.
Executive Perspectives
Weave Chief Executive Officer Brett White stated that the acquisition marks the start of an exciting new chapter for the company. White noted that for nearly two decades, Weave has built solutions for independent practices serving patients in communities across the country. He added that the company is well positioned to deliver more value to its practices through the support and resources provided by Francisco Partners.
Investment Strategy and Background
Ezra Perlman, Co-President at Francisco Partners, said the firm is pleased to officially partner with White and the Weave team. Perlman noted significant opportunities to build on Weave's position through continued product innovation in AI-powered patient engagement and payments solutions. Francisco Partners specializes in partnering with technology and technology-enabled businesses and has invested in over 500 technology companies since its launch over 25 years ago.
Advisory Roles
The transaction involved several legal and financial advisors. Jefferies LLC served as the exclusive financial advisor to Weave, while Orrick, Herrington & Sutcliffe LLP acted as its legal counsel. Kirkland & Ellis LLP served as the legal counsel to Francisco Partners.
Industry Recognition and Impact
Weave was recognized as a 2026 Best Software Awards winner for healthcare software products by G2. The company's platform is designed to reduce administrative workloads and provide real-time insights to help practices grow with confidence.
