Vista and Blackstone to Acquire Smartsheet for $8.4 Billion

The deal includes a 45-day period for Smartsheet to seek alternative offers before finalizing the acquisition.

Smartsheet shareholders will receive $56.50 per share, a 41% premium over the 90-day average closing price.
The acquisition will make Smartsheet a private company, six years after it went public.
The deal is expected to close by January 2025, pending shareholder approval and regulatory clearance.
Vista and Blackstone aim to support Smartsheet's goal of expanding its collaborative work management platform.
The announcement follows a Federal Reserve interest rate cut, creating favorable conditions for business acquisitions.