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January 23, 2025

Smartsheet

By JOURNAL STAFF

Bellevue-based Smartsheet, an AI enhanced enterprise grade work management platform, announced the completion of its acquisition by funds managed by Blackstone and Vista Equity Partners in a transaction valued at approximately $8.4 billion. The transaction was previously announced in September, and approved by Smartsheet stockholders on Dec. 9. With the completion of the take private transaction, Smartsheet stockholders are entitled to receive $56.50 in cash for each share of Smartsheet common stock they owned immediately prior to the closing. Smartsheet's stock has ceased trading, and the company is no longer listed on the New York Stock Exchange. Smartsheet, Blackstone and Vista will seek to invest to expand the company's collaborative work management solutions, and allow Smartsheet to scale its international business and make its products and expertise available to customers and partners worldwide. Qatalyst Partners acted as exclusive financial advisor to Smartsheet, and Fenwick & West as its legal counsel.




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