Francisco Partners Acquires Weave in Digital Transactions Deal

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Francisco Partners has agreed to acquire Weave Communications Inc. in a deal valued at $650 million, representing a 34% premium to Weave’s share price. Weave is an 18-year-old payments-software developer specializing in health care. The news follows by a week Francisco Partners’ deal to acquire Canadian payments platform Moneris Solutions Corp. in a $1.43 billion (U.S.) deal.

Acquisition Details

Francisco Partners’ acquisition of Weave Communications Inc. is expected to expand the company’s presence in the healthcare payments industry. Weave’s payments software is used by hundreds of healthcare providers across the United States. The acquisition is subject to regulatory approval and is expected to close in the coming months. Once completed, Weave will operate as a subsidiary of Francisco Partners.

Francisco Partners has also been active in the broader payments sector, recently completing a $1.43 billion deal to acquire the Canadian payments platform Moneris Solutions Corp. This recent purchase comes shortly after the Weave agreement, indicating a strong focus on digital transaction platforms. Moneris is a significant player in the Canadian market, which complements Francisco Partners’ existing portfolio of technology investments.

Other Digital Transactions News

Klarna Group plc announced that chief financial officer Niclas Neglen and chief marketing officer David Sandstrom will leave the company early next year. Neglen has been CFO for six years, while Sandstrom has served nine years as CMO. A search for a new CFO is in progress, the company said. Additionally, Klarna reported its second-quarter gross merchandise volume reached $36.6 billion, up 18% year-over-year, helping to drive up revenue 27% to $1.042 billion. Net income totaled $9 million, reversing a $53-million net loss a year ago. The company’s active consumers reached 120 million, up 8%, while its merchant count soared 54% to 1.2 million.

The departure of key executives follows a period of strong financial performance for Klarna. The company reported a net income of $9 million for the second quarter, which marks a reversal from a $53-million net loss recorded during the same period the previous year. This turnaround in profitability is attributed to the significant growth in its merchant base, which has expanded by 54% to reach 1.2 million merchants, alongside a rise in active consumers to 120 million.

Research commissioned by PAR Technology Corp. indicates a shift in consumer sentiment regarding artificial intelligence in the foodservice industry. Some 27% of consumers indicated they would choose a restaurant that avoided AI, down from 41% a year ago, indicating increased consumer acceptance of the technology in foodservice, according to the survey of 1,000 consumers in June. Prior year results come from a PAR-backed survey of the same number of consumers in March 2025.

Square announced an expanded relationship with restaurant-technology developer OpenTable. The move is expected to connect reservations, payments, and guest information in a single view for restaurants.

Stablecoin Technology and Payments Partnerships

Stablecoin-technology provider Rain has announced the launch of the Agentic Payments Alliance. Other founding members include Visa, Mastercard, Fiserv, Circle, Solana, and Remitly. The move comes as much of the technology undergirding agentic commerce is still under development, the parties say.

The dLocal payments platform has been named the latest payment-processing partner for UATP One, UATP’s merchant-services platform. UATP is a globe-spanning payments network owned by airlines. Nuvei is another UATP partner.

Payments platform Synchrony announced it will work with OpenAI to support AI capability in financing and rewards for shopping and at checkout.

PayRange has agreed to provide mobile-payment technology for Electrolux laundry machines used at laundromats.

Deluxe Corp. named Kevin Jones president of its Merchant Services unit. Jones joined Deluxe this month as the result of the company’s $625-million acquisition of Celero Commerce, which he founded in 2018.

Transaction Network Services, or TNS, named Michael Johnson global managing director for its Payments Market unit. Johnson joined the company in 2017 as vice president of Asia-Pacific operations.