Hg to acquire OneStream for $6.4B to accelerate Finance AI growth

Hg has agreed to acquire OneStream in an all-cash transaction that values the finance-software specialist at approximately $6.4 billion. The deal, struck at $24.00 per share, takes aim at accelerating OneStream’s push into AI-driven financial planning and analysis and will convert the Nasdaq-listed company into a private business.

Under the terms of the agreement an entity controlled by Hg will purchase all outstanding stock, a move that the parties say will let the company move faster on product roadmaps and AI investments. The transaction delivers a roughly 31% premium to OneStream’s closing price on January 5 and a roughly 27% premium to its 30‑day VWAP to that date. Closing is expected in the first half of 2026, subject to regulatory clearances and customary conditions.

The investor group around the deal includes General Atlantic and Tidemark as minority backers; existing major shareholder KKR—which previously led the company to IPO—will sell its stake as part of the transaction. Hg says the commitment will be funded from its Saturn Fund and will be supported by its in‑house AI resources and scaling expertise.

Tom Shea, OneStream’s chief executive, will remain in place after the transaction and the company will keep its headquarters in Birmingham, Michigan. Company leadership framed the move as a chance to accelerate product development and expand enterprise adoption of AI-first capabilities across consolidation, close, reporting and forecasting workflows.

Private capital remains intensely active in enterprise software. Buyers are paying up for cloud-native platforms that anchor the Office of the CFO as firms deploy generative AI to automate close and forecasting processes. Market estimates for corporate performance management and enterprise finance applications point to low‑double digit CAGRs as CFO tooling shifts to cloud and data‑driven workflows, making OneStream’s positioning attractive to software‑focused investors.

For Hg, the acquisition reinforces a strategy of building scale in mission‑critical B2B software. The firm has highlighted prior investments across finance and operations software and told investors it will lean on both its scaling playbook and an AI incubator to accelerate product launches and customer value. General Atlantic and Tidemark signalled support for that growth plan, citing OneStream’s global customer base and multi-product platform.

Financial and legal advisors on the transaction were named by the parties. The deal is structured so that no additional shareholder vote is required given the voting agreements in place; upon completion OneStream’s Class A shares will be delisted from public exchanges. Management says the private ownership structure will provide discretion and longer time horizons to invest behind AI and international expansion.