Vista, Blackstone buying software maker Smartsheet for about $8.4 billion

Published On Sep 24, 2024, 6:54 PM

Vista Equity Partners and Blackstone are acquiring Smartsheet, a software company, for approximately $8.4 billion in cash, paying $56.50 per share. The deal has a 45-day 'go-shop' period allowing Smartsheet to seek better offers. This acquisition is seen as a strategic move to enhance Smartsheet's growth in collaboration solutions, benefiting from a favorable market environment due to recent interest rate cuts.

Read full article

Stock Forecasts

SMARView SMAR chart on TradingView

Positive

The acquisition of Smartsheet at a significant premium indicates investor confidence in the company's long-term growth prospects under private ownership. The ongoing demand for collaboration tools in a digital-first work environment suggests stability and potential growth for Smartsheet post-acquisition.

Related News

Vista, Blackstone buying software maker Smartsheet for about $8.4 billion

Sep 24, 2024, 6:54 PM

Blackstone and Vista Equity Partners are acquiring software maker Smartsheet for $8.4 billion in cash, or $56.50 per share; the deal is expected to close in Smartsheet's fiscal fourth quarter.

SMAR