Robert F. Smith’s Vista Equity Partners and Blackstone Complete acquisition of Smartsheet

Smartsheet, a leading AI-powered work management platform, has announced the successful completion of its US$8.4 billion acquisition by funds managed by Vista Equity Partners (Vista) and Blackstone.

The deal, first unveiled on September 24, 2024, received approval from Smartsheet stockholders on December 9, 2024. Under the terms of the agreement, stockholders are entitled to US$56.50 in cash per share of common stock they owned before the transaction closed.

Following this development, Smartsheet’s stock is no longer traded on the New York Stock Exchange, marking its transition to private ownership.

“This milestone represents an exciting new chapter for Smartsheet,” said Mark Mader, President and CEO of Smartsheet. “With Vista and Blackstone as partners, we’re positioned to take a long-term approach to growth, enabling us to deliver even greater value to our customers, partners, and employees.”

This acquisition not only solidifies Smartsheet’s position as a leader in enterprise work management but also sets the stage for continued innovation and growth on a global scale.