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Direct Investment  + Alternative Assets  + M&As  + Private Equity  |  January 8, 2026
Hg to Take OneStream Private in $6.4B All-Cash Deal 
By: Joe Palmisano

Hg to Take OneStream Private in $6.4B All-Cash Deal 

Financial software maker OneStream has agreed to be acquired by private equity firm Hg in an all-cash transaction valuing the company at approximately $6.4 billion. Under the terms of the agreement, OneStream shareholders will receive $24 per share, representing a 31% premium to the company’s closing share price on January 5, 2026, and the company will be taken private once the deal closes in the first half of 2026. 

Hg will become OneStream’s majority voting shareholder, with General Atlantic remaining a significant minority investor alongside technology-focused investment firm Tidemark. An entity controlled by Hg will acquire all outstanding shares, including those held by funds managed by KKR, which took OneStream public in 2024. Hg’s investment will be made through its Saturn Fund, which focuses on large-scale software and technology-enabled businesses. 

“The Office of the CFO is at a critical AI inflection point, and we believe OneStream is well positioned for this shift,” said Tom Shea, CEO of OneStream. “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.” Shea will continue to serve as CEO following the transaction, and the current leadership team will remain in place, with OneStream maintaining its headquarters in Birmingham, Michigan. 

J.P. Morgan Securities LLC is acting as financial advisor and has provided a fairness opinion to OneStream, with Centerview Partners LLC also providing a fairness opinion. Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as legal advisor and FGS Global as strategic communications advisor to OneStream. Goldman Sachs & Co. LLC is serving as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor to Hg. Jones Day is advising KKR, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as financing counsel to Hg. Deloitte & Touche LLP is providing financial and tax diligence, Bain & Company is leading commercial and technology diligence, and Cruxy & Company is handling product strategy diligence. 

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Hg CapitalOneStream

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.