Jan 6 (Reuters) – Buyout firm Hg Capital is in advanced talks to acquire financial software maker OneStream, Bloomberg News reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report. HG and OneStream did not immediately respond to Reuters’ request for a comment. Reuters had exclusively reported last November […]
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Hg Capital nears deal to take OneStream private, Bloomberg News reports
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Jan 6 (Reuters) – Buyout firm Hg Capital is in advanced talks to acquire financial software maker OneStream, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Reuters could not immediately verify the report. HG and OneStream did not immediately respond to Reuters’ request for a comment.
Reuters had exclusively reported last November that the financial software maker was exploring strategic options including a possible sale, with Hg among the names studying possible bids for OneStream.
Birmingham, Michigan-based OneStream offers software products to help executives report financial statements to regulators and investors, and counts Toyota 7203.T, UPS UPS.N, News Corp NWSA.O and General Dynamics GD.N as customers, according to its website.
OneStream became vulnerable to a potential takeover offer due to its share-price struggles. Its shares have fallen about 35% in the past year.
The firm has a market capitalization of $4.48 billion, according to LSEG data.
(Reporting by Rhea Rose Abraham in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)