Robert F. Smith’s Vista Equity Partners and Blackstone join forces to acquire Smartsheet for $8.4 Billion

Robert F. Smith, the CEO and founder of Vista Equity Partners, is collaborating with Blackstone to acquire Smartsheet, a leading enterprise work management platform utilized by businesses around the globe. A recent news release highlighted that nearly 85 percent of the Fortune 500 companies for 2024 are leveraging the Smartsheet platform.

Mark Mader, CEO of Smartsheet, stated, “For over a decade, we have cultivated a vibrant community of employees, partners, and customers, all dedicated to enhancing and benefiting from Smartsheet’s top-tier work management platform. We are entering a new phase of growth and customer success, and we are excited to partner with Blackstone and Vista Equity Partners to further our mission of modernizing work management for enterprises worldwide.”

Vista Equity Partners is a global investment firm that managed over US$100 billion in assets as of March 31, 2024. The firm specializes in investing exclusively in enterprise software, data, and technology-driven businesses.

Blackstone, recognized as the largest alternative asset manager globally, aims to provide attractive returns for both institutional and individual investors by enhancing the companies in which they invest.