Collaboration software firm Smartsheet announced that Blackstone and Vista Equity Partners will acquire it in an all-cash deal valued at over $8 billion. Shareholders will receive over $56 per share, reflecting a nearly 40% premium to Smartsheet's average closing price over the last three months. The deal includes a 45-day go-shop period, allowing Smartsheet to consider other offers. The transaction is expected to close by January 2025, subject to shareholder approval. Smartsheet shares rose 6% following the announcement.
