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Fortune
Fortune
Sheryl Estrada

OneStream CEO: $6.4 billion deal to go private will accelerate AI strategy in finance

HG HubSpot KKR
Tom Shea, CEO of OneStream. (Credit: Courtesy of OneStream)

Good morning. Financial software developer OneStream is set to go private again in a move aimed at strengthening its position amid the AI boom.

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 on 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.

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