"Private equity firm Hg has agreed to acquire OneStream in an all-cash deal valued at about $6.4 billion, paying $24 per share, the company announced Tuesday. OneStream CEO Tom Shea told me in an exclusive interview that the deal is about gaining speed."We really feel strongly that, in the next 24 to 36 months, the AI world, especially within finance, is going to be defined, and there are going to be emerging winners and losers in that space," Shea said."
"Hg is taking OneStream private less than two years after its Nasdaq debut in July 2024 under majority ownership of KKR, with an IPO that priced at $20 per share and valued the company at around $4.6 billion. OneStream faced some headwinds in the public markets due to macro conditions, growth-valuation tension, and practical AI ROI questions in finance. Nonetheless the company reported $568 million in annual recurring revenue in 2024 and is broadening its suite of AI-powered tools for corporate finance, with AI bookings up about 60% year over year in the third quarter, according to Shea."
Hg will acquire OneStream in an all-cash transaction valued at about $6.4 billion, with General Atlantic and Tidemark joining as minority investors. The deal price is $24 per share and is expected to close in the first half of 2026, subject to regulatory approval. OneStream serves more than 1,700 customers, including Toyota, Capital One, and UPS, and reported $568 million in annual recurring revenue in 2024. Leadership frames the buyout as a means to increase investment velocity in AI-powered finance tools and pursue long-term product innovation outside public-market quarterly constraints.
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