Enterprise platform for work management Smartsheet was acquired by Blackstone and Vista equity Partners for $8.4 billion in an all cash transaction.
“Modern enterprises rely on Smartsheet’s simple and scalable solutions to manage a diverse range of business-critical processes every single day because they enable seamless collaboration, enhanced productivity and faster and more informed decision-making,” said Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director, and John Stalder, Managing Director at Vista.
The buyers will acquire all the outstanding shares at $56.50 per share at a premium of 41% compared to the weifghted average closing price for the 90 days ending July 17, 2024.
“Our next phase of growth and customer success is underway, and we look forward to partnering with Blackstone and Vista Equity Partners to accelerate our vision of modernizing work management for enterprises, globally,” said Mark Mader, CEO of Smartsheet. “This transaction is a testament to our employees’ outstanding work in serving customers and partners, and building an enterprise-grade, market-leading platform.”
By Staff
