Francisco Partners to acquire Weave Communications for $650M

Weave Communications Inc (NYSE:WEAV) stock skyrocketed 32.7% in premarket trading after announcing it would be acquired by Francisco Partners for roughly $650 million. Under the deal, Weave shareholders will receive $7.40 per share in cash, a 34% premium over its closing price on August 17, 2026, the last trading day before the announcement.

Once completed, Weave will no longer be listed on the NYSE and will transition to a private entity. The AI-driven patient engagement and payments platform, founded in 2008 and based in Lehi, Utah, currently serves over 40,000 locations. Speaking of the acquisition, Weave CEO Brett White stated that the company will be better equipped to invest in its AI platform, strengthen its payments and revenue cycle management, and advance its mission of improving healthcare experiences at every practice.

Board Chair Stuart C. Harvey Jr. confirmed that the board evaluated strategic alternatives and consulted with various parties before unanimously deciding the transaction was the best course for Weave. The deal, approved unanimously by the board, is expected to close in the fourth quarter of 2026, pending customary closing conditions like shareholder approval and regulatory clearances.

Jefferies LLC is acting as the exclusive financial advisor for Weave, while Orrick, Herrington & Sutcliffe LLP is its legal counsel, and Kirkland & Ellis LLP is representing Francisco Partners.