Hg to Take OneStream Private for $6.4 Billion in a Cash Deal

OneStream, Inc. (OS) entered a merger agreement on January 6, 2026, to be acquired by Hg Capital for $6.4 billion in cash.

Deal Structure:

OneStream shareholders will receive $24 per share in cash, representing a 30.51% premium from the stock’s last close.

Company Profile:

OneStream is a cloud-based enterprise finance software company that helps organizations manage financial close, planning, forecasting, and reporting by combining financial and operational data in a single platform.

Hg is a software-focused investment firm that backs European and transatlantic software and services businesses, partnering with management teams to scale market-leading companies, with around $100 billion in assets under management.

Deal Details and Timeline:

In November last year, Reuters reported that OneStream was exploring strategic options, including a possible sale. The stock was trading at $18.59 when it was revealed that private equity firms, including Blackstone (BX) and Hg, were among the names that had been studying possible bids for OneStream.

Hg will become OneStream’s majority voting shareholder. General Atlantic will hold a significant minority stake alongside Tidemark.

The deal is expected to close in the first half of 2026.

Tom Shea will remain CEO, and the current leadership team will stay in place. OneStream will continue to be headquartered in Birmingham, Michigan.

J.P. Morgan Securities and Wilson Sonsini Goodrich & Rosati are serving as financial and legal advisors to OneStream, respectively. Hg is being advised financially by Goldman Sachs and legally by Skadden, Arps, Slate, Meagher & Flom and Paul, Weiss, Rifkind, Wharton & Garrison.

Hg is paying 11.2 times sales for OneStream.

Deal Metrics:

For a more in-depth look at this merger and its intricate details, you can visit the Deal Metrics page here:

Deal Metrics for the acquisition of OneStream, Inc. (OS) by Hg

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article