Vista Equity Partners, an American private equity firm founded in 2000 that specializes in investments in software, data, and technology-enabled businesses along with Blackstone has announced plans to acquire Smartsheet, a collaboration software maker for $8.4 billion USD.
According to reports, this all-cash transaction values Smartsheet at $56.50 per share and will accelerate the vision of modernizing work management for enterprises globally as both companies will help drive innovation and deliver value to customers and stakeholders.
The report further mentions that the deal is expected to close in the fourth quarter of the year and includes a 45-day ‘go-shop’ period that expires on November 8, 2024.
Smartsheet Inc. is an American publicly listed company that develops and markets the Smartsheet application founded in 2005 and headquartered in Bellevue, Washington. It helps teams collaborate and scale their projects and processes.
