Hg to Acquire OneStream in Privatization Deal
Hg to Acquire OneStream in an all-cash $6.4 billion deal with a $24 per share cash offer that will delist Class A shares and remove public liquidity.
KEY TAKEAWAYS
- Hg agreed to buy OneStream for $6.4 billion and will pay $24.00 per share in cash.
- Hg will be the majority voting shareholder while General Atlantic and Tidemark take significant minority stakes.
- Deal expected to close in the first half of 2026 subject to regulatory approvals and customary conditions.
HIGH POTENTIAL TRADES SENT DIRECTLY TO YOUR INBOX
Add your email to receive our free daily newsletter. No spam, unsubscribe anytime.
Hg will acquire OneStream under a definitive all-cash agreement that makes Hg the majority voting shareholder and aims to accelerate OneStream’s AI-first strategy, expand Finance AI capabilities, and scale the company’s enterprise finance platform.
Deal Terms, Ownership, and Strategy
The company announced on January 6, 2026, that Hg will acquire OneStream, Inc. (NASDAQ:OS) in an all-cash transaction valuing the equity at $6.4 billion. Shareholders will receive $24.00 per share, a 31% premium to the January 5 closing price and a 27% premium to the 30-trading-day volume-weighted average price ending January 5. Hg will hold majority voting control through its Saturn Fund, while General Atlantic and Tidemark will take significant minority stakes. The transaction received unanimous approval from OneStream’s board and KKR, the majority voting holder, so no further stockholder vote is required. J.P. Morgan advised OneStream, and Goldman Sachs advised Hg.
The partnership aims to accelerate an AI-first go-to-market strategy and expand Finance AI capabilities by leveraging Hg’s AI team of more than 100 specialists and the Hg Catalyst incubator to scale product development and deployment. CEO Tom Shea and the current leadership team will remain in place, and headquarters will stay in Birmingham, Michigan. OneStream provides an enterprise finance platform for financial close, consolidation, reporting, planning, and forecasting. It serves more than 1,700 customers, about 18% of which are Fortune 500 companies, and employs roughly 1,600 people.
The transaction is expected to close in the first half of 2026, subject to regulatory approvals and customary closing conditions. Termination is possible if conditions are unmet, and OneStream may owe a termination fee in certain cases. After closing, OneStream’s Class A common stock will be delisted from Nasdaq, completing the privatization. The company noted risks including regulatory delays, litigation, business disruptions, and related costs.
OneStream plans to release its fourth-quarter and fiscal-year 2025 results in February 2026 but will not hold a conference call due to the pending transaction.
