OneStream announced it has entered into a definitive agreement to be acquired by Hg, a software-focused investment firm, in an all-cash transaction valued at approximately $6.4 billion in equity. The take-private deal positions the enterprise finance platform provider to accelerate AI innovation for the Office of the CFO.
Hg will become the majority voting shareholder, with General Atlantic and Tidemark taking significant minority stakes. The transaction, expected to close in the first half of 2026, will delist OneStream’s Class A common stock from public exchanges and return the company to private ownership less than two years after KKR took it public in 2024. CEO Tom Shea and the current leadership team will remain in place at the Birmingham headquarters.
“The Office of the CFO is at a critical AI inflection point, and we believe OneStream is well positioned for this shift,” Shea said in a press release. “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”.
The acquisition provides OneStream access to Hg’s AI team of over 100 specialists and Hg Catalyst, a dedicated AI incubator designed to accelerate product innovation across the firm’s portfolio. Hg manages approximately $100 billion in assets and has invested over $4.5 billion in Office of the CFO technology providers to date.
Impact on Finance Operations
For CFOs managing enterprise performance management systems, the acquisition signals intensified competition in a corporate performance management software market projected to grow from $10.7 billion in 2026 to $38.9 billion by 2035, expanding at a 13.7% compound annual growth rate. OneStream competes directly with Oracle, Workday, and SAP in a market where the global Office of the CFO software segment is anticipated to reach $131 billion by 2028.
OneStream’s unified platform consolidates financial close, consolidation, reporting, planning, and forecasting into a single governed system, addressing a critical pain point for organizations running disparate finance systems. The company reported 60% year-over-year growth in AI bookings for the first nine months of 2025, driven by capabilities including AI-driven forecasting, autonomous decision systems, and real-time predictive financial intelligence.
Finance teams implementing modern financial close consolidation processes have documented measurable improvements through automation and standardization. Organizations moving from people-dependent to process-dependent operations with step-by-step documentation achieve increased accountability through improved visibility into local activities, while automated task managers and reconciliation solutions accelerate month-end close cycles. Cloud-based CPM solutions deliver scalability, flexibility, and accessibility, eliminating IT infrastructure requirements while enabling advanced forecasting, predictive modeling, and real-time insights.
Technology executives evaluating CPM providers should prioritize unified platforms that integrate with multiple enterprise systems including ERP, CRM, and data warehouses, providing a single source of financial data truth. The demand for integrated CPM platforms capable of automating finance functions and delivering actionable insights represents a significant market opportunity, particularly as organizations replace legacy financial systems with AI-enabled solutions.
What This Means for ERP Insiders
Private equity ownership enables accelerated AI product velocity. OneStream’s return to private ownership after a brief 18-month public market tenure demonstrates investor conviction that CPM platforms require sustained R&D investment horizons incompatible with public market expectations, particularly during AI transformation phases. System integrators and implementation partners should anticipate OneStream channel investments and partner program enhancements as the company leverages Hg’s operational playbook, which has scaled portfolio companies to more than $185 billion in aggregate enterprise value.
AI-driven financial planning represents an existential platform replacement cycle. The convergence of continuous forecasting, scenario modeling, and autonomous decision systems fundamentally redefines CFO technology requirements beyond traditional financial close and consolidation capabilities. OneStream’s 60% AI bookings growth signals that finance leaders increasingly view AI as a competitive imperative rather than experimental technology, validating market projections of 50%-plus AI spending increases despite broader cost reduction mandates.
Consolidation in the fragmented CPM market will accelerate as specialized vendors struggle. The Office of the CFO software market’s expansion to $131 billion by 2028 has attracted numerous startups offering point solutions for tax, treasury, and procurement automation, fragmenting an already crowded competitive landscape. OneStream’s $6.4 billion valuation and access to Hg’s $100 billion asset base establishes a resource gap that smaller CPM vendors cannot match, particularly for AI incubator investments and specialist teams exceeding 100 professionals.
