Blackstone and Vista Equity Partners Acquire Smartsheet for $8.4 Billion

Blackstone and Vista Equity Partners have announced a joint acquisition of Smartsheet, a leading enterprise platform for modern work management, in an all-cash deal valued at approximately $8.4 billion. The acquisition, which represents a 41% premium to the 90-day volume weighted average closing price of Smartsheet stock, highlights the growing demand for collaborative work management solutions in today's increasingly distributed and global workforces.


Smartsheet's innovative and market-leading solutions enable seamless collaboration, enhanced productivity, and faster decision-making across diverse business-critical processes. The acquisition by Blackstone and Vista Equity Partners, two prominent global investment firms, underscores the strategic importance of Smartsheet's platform in the enterprise software landscape.


The combined resources of Blackstone and Vista Equity Partners are expected to significantly influence Smartsheet's competitive position. With their expertise in private equity and technology investing, the two firms will likely drive long-term growth by accelerating investments in the next generation of work management solutions. This strategic partnership will enable Smartsheet to leverage Blackstone and Vista's scale and resources, further solidifying its position as a market leader in work management software.


Smartsheet's work management platform aligns perfectly with Blackstone and Vista's investment strategies, focusing on enterprise software, data, and technology-enabled businesses. The acquisition presents an opportunity for the two firms to expand their portfolio and tap into Smartsheet's thriving community of employees, partners, and customers. By partnering with Smartsheet, Blackstone and Vista can access a vast customer base, fostering potential synergies and driving growth across their existing portfolio companies.


The acquisition is expected to have a significant impact on the broader enterprise software market, further strengthening Blackstone and Vista's competitive position. As the demand for collaborative work management solutions continues to grow, Smartsheet's innovative platform will enable the two firms to drive innovation and deliver greater value to customers and stakeholders. The combined resources of Blackstone and Vista will help Smartsheet remain a great place to work, fostering employee growth and thriving while driving long-term success.


In conclusion, the acquisition of Smartsheet by Blackstone and Vista Equity Partners is a strategic move that positions the two firms to capitalize on the growing demand for collaborative work management solutions. With their combined resources and expertise, Blackstone and Vista are poised to drive innovation and growth at Smartsheet, further solidifying its position as a market leader in the enterprise software landscape.