Largest private companies in the U.S.

• Anthropic is backed ‌by Alphabet's Google and Amazon.com. 
• Founded in 2021 by former OpenAI staff, Anthropic's Claude models have built a ‍reputation among developers, ⁠particularly for coding tasks.

 

===OneStream (OS) to be acquired by Hg Capital ?

 

Bloomberg News reported, citing sources familiar with the matter, that buyout firm Hg Capital is nearing a deal to take the company private in a transaction valued around $4.3 billion, or about 6x projected 2026 revenue. This news emerged early Tuesday, sparking immediate buying interest as investors anticipated a premium offer for the financial software provider, which had been trading below its July IPO price. The development highlights renewed private equity interest in SaaS firms with stable cash flows, amplifying the premarket move amid light overall market volume.

==ON24 (ONTF) to be acquired by Cvent for $400 million in an all-cash deal

• Sector: Technology
• Industry: Software - Application
• Full Time Employees: 437
• Headquartered in San Francisco, California
• https://www.on24.com

 

ON24, Inc. has entered into a definitive agreement to be acquired by Cvent

• The agreement reflects an all-cash transaction for a total consideration of approximately $400 million.
  
• The proposed transaction brings together two complementary platforms serving enterprise marketers and event professionals. ON24's reliable and secure enterprise-grade webinar and digital engagement capabilities, first party engagement data, and AI-powered workflows complement Cvent's robust event technology offerings. With a full suite of solutions that power high-impact digital and in-person experiences, Cvent and ON24 are well positioned to support marketing, sales, customer success and event teams as buying journeys become more digital and complex.
  
• Under the terms of the agreement, ON24 shareholders will receive $8.10 per share in cash, representing a premium of approximately 62% over ON24's closing share price on November 10, 2025, the last trading day prior to ON24's disclosure that it had received several indications of interest regarding a potential transaction and a 51% premium to ON24's 90-day volume weighted average price.
• The proposed transaction, which has been unanimously approved by the ON24 Board of Directors, is expected to close in the first half of 2026, subject to approval by ON24 shareholders, the satisfaction of regulatory approvals, and other customary closing conditions. Upon completion of the transaction, ON24's common stock will no longer be publicly listed, and ON24 will become a privately held company.