Weave Communications, Inc. (NYSE: WEAV), a prominent AI-driven patient engagement and payments platform for healthcare practices, is set to be acquired by Francisco Partners, a global investment firm focused on technology companies.
The acquisition agreement values Weave at approximately $650 million, with stockholders receiving $7.40 per share in cash, marking a 34 percent premium.
Following the transaction's completion, Weave will delist from the NYSE and transition to a private company.
The deal is expected to close in the fourth quarter of 2026.
Jefferies LLC is acting as the exclusive financial advisor to Weave, while Orrick, Herrington & Sutcliffe LLP is providing legal counsel.
“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."