OneStream agrees to Hg acquisition for $6.4 billion

Corporate performance management solutions provider OneStream has entered into a definitive agreement to be acquired by Hg Capital — an investment firm specializing in software, services and data businesses — for  $6.4 billion in an all-cash transaction. Under the agreement, Hg will be OneStream’s majority voting shareholder. Technology investment firms General Atlantic and Tidemark will also be significant minority investors.

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“Today marks a pivotal moment for OneStream and our vision to be the operating system for modern finance,” said OneStream CEO Tom Shea in a statement Tuesday. “The Office of the CFO is at a critical AI inflection point, and we believe OneStream is well positioned for this shift. As we build on our strong foundation of growth, we are thrilled to partner with the teams at Hg, General Atlantic and Tidemark. Through this partnership, we are able to significantly advance our AI-first go-to-market strategy and expand our finance AI capabilities at a rapid pace. This transaction delivers immediate value to our shareholders and is a vote of confidence in our strategy, our talented employees and our partner ecosystem. We look forward to having the ability to move faster, think bigger and deliver more for our forward-thinking finance customers.”

Shea will continue to serve as CEO, and the current leadership team will remain in place. OneStream will maintain its headquarters in Birmingham, Michigan.  

OneStream shareholders will receive $24 per share in cash. The per-share purchase price represents a 31% premium to OneStream’s closing share price on Jan. 5, 2026 and a 27% premium to its volume-weighted average share price over the 30-trading day period ending the same date. An entity controlled by Hg will acquire all outstanding shares, including those shares owned by investment funds managed by KKR.

The transaction was unanimously approved by OneStream’s board, as well as by majority shareholder KKR.

“With over $4.5 billion invested in providers that serve the Office of the CFO to date, we understand the tremendous opportunity for OneStream, as technology and industry trends continue to place increasing demands on Finance teams,” said Alan Cline, partner and head of North America at Hg. “To meet this need, OneStream’s powerful AI differentiation, strong global customer base and clear vision for the future of modern finance make it a leading enterprise provider in this space and exceptionally well positioned for the future.”

OneStream initially went public in July 2024 with a roughly $490 million IPO.