Hg to Take OneStream Private in $6.4B Deal

Onestream, Inc. Class A ( (OS) ) just unveiled an announcement.

On January 6, 2026, OneStream entered into a definitive agreement and plan of merger under which entities affiliated with private equity firm Hg will acquire OneStream in an all-cash deal valuing the company at about $6.4 billion. Under the terms, public shareholders will receive $24.00 in cash per share—a 31% premium to the January 5, 2026 closing price—with corresponding cash treatment for OneStream LLC units and equity awards, while certain out-of-the-money options will be cancelled without consideration; CEO Tom Shea will roll over part of his equity and remain in his role, and the company will continue to be headquartered in Birmingham. The transaction, structured through dual mergers of Hg-affiliated entities into OneStream Inc. and OneStream Software LLC, has been unanimously approved by OneStream’s board and, on January 6, 2026, secured written consent from KKR-affiliated shareholders controlling roughly 58% of the voting power, which constitutes all required stockholder approval to complete the deal. Closing, targeted for the first half of 2026 and not subject to a financing condition, remains contingent on customary regulatory clearances—including Hart-Scott-Rodino approval—and other closing conditions, with an outside date that can extend to April 6, 2027 and a $207 million termination fee potentially payable by OneStream in specified circumstances. Upon completion, OneStream will be taken private, its Class A common stock will be delisted from public exchanges, Hg will become the majority shareholder alongside minority investors General Atlantic and Tidemark, and the amended tax receivable agreement will terminate without payments in connection with this or a superior alternative acquisition, simplifying the company’s post-transaction tax-related obligations and capital structure for new owners.

The most recent analyst rating on (OS) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on Onestream, Inc. Class A stock, see the OS Stock Forecast page.

Spark’s Take on OS Stock

According to Spark, TipRanks’ AI Analyst, OS is a Neutral.

Onestream, Inc. shows strong growth in subscription and international revenues, and strategic leadership changes are viewed positively. However, profitability challenges and a negative P/E ratio weigh on the stock’s valuation. Technical indicators suggest bearish momentum, which could impact short-term performance.

To see Spark’s full report on OS stock, click here.

More about Onestream, Inc. Class A

OneStream, Inc., based in Birmingham, Michigan, is a leading enterprise finance management software provider whose cloud-based Digital Finance Cloud platform unifies financial close, consolidation, reporting, planning and forecasting for the Office of the CFO. Embedding AI into a single, extensible architecture that connects core financial and broader operational data, the company serves more than 1,700 customers, including 18% of the Fortune 500, through a global ecosystem of go-to-market, implementation and development partners, positioning itself as an emerging “operating system” for modern finance teams.

Average Trading Volume: 1,664,642

Technical Sentiment Signal: Sell

Current Market Cap: $4.48B

For a thorough assessment of OS stock, go to TipRanks’ Stock Analysis page.