05:22 AM EDT, 05/06/2025 (MT Newswires) -- Weave Communications ( WEAV ) said late Monday it agreed to acquire TrueLark, an AI-powered receptionist platform, for $35 million in cash and equity.

Under the terms of the deal, Weave will acquire full ownership of $25 million in cash and $10 million in equity, the medical bill payment and customer services platform provider said.

The agreement also includes possible performance-based awards for certain personnel paid in stock over a two-year period, the company.

The transaction is expected to close in Q2, the company said.

Weave shares were up over 6% in Tuesday's premarket activity.

Price: 11.42, Change: +0.72, Percent Change: +6.73