Calgary-based Blackline Safety has entered into a definitive agreement to be acquired by an affiliate of Francisco Partners, a global technology-focused investment firm, in a deal valued at up to $850 million.

Blackline develops wearable devices, gas detection hardware, and cloud-connected software designed to keep industrial workers safe in demanding environments. The company has customers in more than 75 countries across industries including energy, public safety, transportation, and utilities, and has reported over 323 billion data points and initiated more than eight million emergency alerts.

For Blackline, the deal represents a significant shift — the company has been publicly traded on the TSX and, following completion of the transaction, its shares will be delisted and it will cease to be a public reporting issuer in Canada.

CEO Cody Slater says the move to private ownership will support the company's continued growth. "As Blackline transitions to a private company, this new partnership with Francisco Partners provides the financial strength, sector expertise and shared vision to continue our growth and strengthen our technology leadership."

Francisco Partners principal Mac Fountain and partner Christine Wang say the firm sees strong demand ahead for connected worker safety technology. "Blackline has built a leading platform in connected worker safety, combining hardware, software, and data to protect industrial workers in some of the most demanding environments in the world. We look forward to partnering with Cody and the leadership team to continue driving product innovation and expanding Blackline's reach."

Blackline's largest shareholder, DAK Capital — owned by Daryl Katz — has agreed to roll over its equity into the acquiring entity. The transaction is subject to shareholder approval and is expected to close in the second quarter of 2026.