Blackstone and Vista Equity Partners Complete Acquisition of Smartsheet
Smartsheet has completed its acquisition by Blackstone and Vista Equity Partners in a transaction valued at approximately $8.4 billion. The deal, announced on September 24, 2024, and approved by stockholders on December 9, 2024, results in Smartsheet stockholders receiving $56.50 in cash per share. Following the completion of this take-private transaction, Smartsheet has ceased trading on the New York Stock Exchange.
The partnership aims to expand Smartsheet's collaborative work management solutions and enhance product innovation. The company will leverage Blackstone and Vista's global expertise to scale its international business and improve product accessibility worldwide. The focus will be on developing AI-enabled user experiences and improving efficiency and productivity for customers.
Smartsheet ha completato l'acquisizione da parte di Blackstone e Vista Equity Partners in una transazione valutata circa 8,4 miliardi di dollari. L'accordo, annunciato il 24 settembre 2024 e approvato dagli azionisti il 9 dicembre 2024, prevede che gli azionisti di Smartsheet ricevano 56,50 dollari in contante per azione. Con il completamento di questa operazione di privazione, Smartsheet ha cessato di essere quotata alla Borsa di New York.
La collaborazione mira ad ampliare le soluzioni di gestione del lavoro collaborativo di Smartsheet e a migliorare l'innovazione del prodotto. L'azienda sfrutterà l'esperienza globale di Blackstone e Vista per espandere il suo business internazionale e migliorare l'accessibilità del prodotto in tutto il mondo. L'attenzione sarà rivolta allo sviluppo di esperienze utente abilitate all'IA e al miglioramento dell'efficienza e della produttività per i clienti.
Smartsheet ha completado su adquisición por parte de Blackstone y Vista Equity Partners en una transacción valorada en aproximadamente 8.4 mil millones de dólares. El acuerdo, anunciado el 24 de septiembre de 2024 y aprobado por los accionistas el 9 de diciembre de 2024, resulta en que los accionistas de Smartsheet reciben 56.50 dólares en efectivo por acción. Tras la finalización de esta transacción de privatización, Smartsheet ha dejado de cotizar en la Bolsa de Nueva York.
La colaboración tiene como objetivo expandir las soluciones de gestión de trabajo colaborativo de Smartsheet y mejorar la innovación del producto. La empresa aprovechará la experiencia global de Blackstone y Vista para escalar su negocio internacional y mejorar la accesibilidad del producto en todo el mundo. El enfoque estará en desarrollar experiencias de usuario potenciadas por IA y mejorar la eficiencia y productividad para los clientes.
스마트시트는 블랙스톤과 비스타 에퀴티 파트너스의 인수가 완료되었으며, 이 거래는 약 84억 달러로 평가되고 있습니다. 이 거래는 2024년 9월 24일에 발표되었고, 2024년 12월 9일 주주들의 승인을 받았습니다. 결과적으로 스마트시트 주주들은 주당 56.50 달러의 현금을 받게 됩니다. 이 사모 거래가 완료된 이후 스마트시트는 뉴욕 증권 거래소에서 거래를 중단했습니다.
이번 파트너십은 스마트시트의 협업 작업 관리 솔루션을 확장하고 제품 혁신을 강화하는 것을 목표로 하고 있습니다. 회사는 블랙스톤과 비스타의 글로벌 전문성을 활용하여 국제 비즈니스를 확장하고 전 세계적으로 제품 접근성을 향상시키며, AI 기반 사용자 경험을 발전시키고 고객의 효율성과 생산성을 개선하는 데 집중할 것입니다.
Smartsheet a finalisé son acquisition par Blackstone et Vista Equity Partners dans une transaction évaluée à environ 8,4 milliards de dollars. L'accord, annoncé le 24 septembre 2024 et approuvé par les actionnaires le 9 décembre 2024, implique que les actionnaires de Smartsheet reçoivent 56,50 dollars en espèces par action. Suite à l'achèvement de cette transaction de privatisation, Smartsheet a cessé de négocier à la Bourse de New York.
Le partenariat vise à étendre les solutions de gestion collaborative du travail de Smartsheet et à améliorer l'innovation produit. L'entreprise tirera parti de l'expertise mondiale de Blackstone et Vista pour développer son activité internationale et améliorer l'accessibilité des produits à travers le monde. L'accent sera mis sur le développement d'expériences utilisateur habilitées par l'IA et l'amélioration de l'efficacité et de la productivité des clients.
Smartsheet hat seine Übernahme durch Blackstone und Vista Equity Partners abgeschlossen, die auf etwa 8,4 Milliarden Dollar geschätzt wird. Das Geschäft, das am 24. September 2024 angekündigt und am 9. Dezember 2024 von den Aktionären genehmigt wurde, führt dazu, dass die Smartsheet-Aktionäre 56,50 Dollar in bar pro Aktie erhalten. Nach Abschluss dieser Privatisierung hat Smartsheet den Handel an der New Yorker Börse eingestellt.
Die Partnerschaft zielt darauf ab, die kollaborativen Arbeitsmanagementlösungen von Smartsheet zu erweitern und die Produktinnovation zu verbessern. Das Unternehmen wird die globale Expertise von Blackstone und Vista nutzen, um sein internationales Geschäft auszubauen und die Produktzugänglichkeit weltweit zu verbessern. Der Fokus liegt auf der Entwicklung AI-gestützter Benutzererlebnisse und der Verbesserung der Effizienz und Produktivität für die Kunden.
- Take-private acquisition valued at $8.4 billion, providing immediate cash value to shareholders
- Strategic partnership with two major private equity firms enabling long-term investment horizon
- Access to Blackstone and Vista's global expertise for international expansion
- Increased resources for product innovation and development
- Delisting from NYSE removes public market liquidity for investors
- End of public trading opportunities for potential new investors
Insights
The completion of Smartsheet's
This acquisition is particularly noteworthy for several reasons: First, the joint investment by Blackstone and Vista Equity Partners - two of the most sophisticated technology investors - signals strong confidence in Smartsheet's market position and growth potential. Their combined expertise in scaling enterprise software companies could accelerate Smartsheet's international expansion and product development, particularly in AI-enhanced capabilities.
The transaction's structure as a take-private deal offers Smartsheet significant advantages: 1) Freedom from quarterly earnings pressure, enabling longer-term strategic investments 2) Access to Blackstone and Vista's extensive portfolio company networks for potential partnerships and cross-selling opportunities 3) Ability to pursue more aggressive growth initiatives without public market scrutiny.
The deal also highlights the broader trend of private equity firms targeting enterprise software companies with strong recurring revenue models and mission-critical products. Smartsheet's position in collaborative work management, combined with its AI capabilities, makes it a strategic asset in a market increasingly focused on workplace efficiency and digital transformation.
This acquisition represents a pivotal moment in the collaborative work management platform market. Smartsheet's AI-enhanced enterprise platform stands to benefit significantly from private equity ownership, particularly in accelerating its technological innovation cycle. The partnership with Blackstone and Vista provides access to deep technological expertise and resources that could fast-track AI integration and platform enhancement.
The competitive landscape in enterprise work management is rapidly evolving, with AI capabilities becoming a key differentiator. Smartsheet's position as an enterprise-grade platform with AI enhancement capabilities makes it a valuable asset. Under private ownership, the company can potentially accelerate its R&D initiatives without the constraints of quarterly performance metrics, particularly in areas like artificial intelligence and automation.
The combined expertise of Blackstone and Vista in scaling technology companies could help Smartsheet optimize its product development pipeline and go-to-market strategies. Their portfolio companies often benefit from shared technological resources and cross-pollination of innovations, which could give Smartsheet additional competitive advantages in the enterprise software market.
The transaction was previously announced on September 24, 2024, and approved by Smartsheet stockholders on December 9, 2024. With the completion of the take private transaction, Smartsheet stockholders are entitled to receive
“We are so pleased to reach another significant milestone, and look forward with optimism to the next chapter for Smartsheet,” stated Mark Mader, President and CEO of Smartsheet. “Working alongside industry powerhouses Blackstone and Vista, Smartsheet can invest with a long-term horizon to the benefit of our customers, partners and team.”
In today’s workplace, collaborative work management and AI-enabled user experiences are more important than ever as companies seek to become more efficient and productive. Smartsheet, Blackstone and Vista will seek to invest to expand the company's leading collaborative work management solutions and deliver exceptional products and experiences for customers and partners. Further, Smartsheet will benefit from Blackstone and Vista’s global expertise to help it scale its international business and make its products and expertise available to customers and partners worldwide.
Sachin Bavishi, a Senior Managing Director at Blackstone, said, “Smartsheet’s enterprise grade work management solutions have long enabled teams at leading organizations to collaborate seamlessly across mission-critical projects and workflows. We are excited to partner with Smartsheet’s management team to deliver even greater value to customers through continued product innovation and investment by leveraging our and Vista’s combined scale and resources.”
“Smartsheet’s intuitive and easy-to-use platform brings people, work and technology together to help teams perform with the pace, scale and proficiency modern enterprises and their workforces have come to expect,” said Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director, and John Stalder, Managing Director at Vista. “We are pleased to welcome Smartsheet to the Vista ecosystem, and we look forward to working alongside Blackstone to drive continued product innovation, productivity gains and outstanding customer experiences to thousands of organizations worldwide.”
Advisors
Qatalyst Partners acted as exclusive financial advisor to Smartsheet. Fenwick & West LLP acted as legal counsel to Smartsheet.
Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC acted as financial advisors and Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone and Vista.
About Smartsheet
Smartsheet is the modern enterprise work management platform trusted by millions of people at companies across the globe, including over
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than
About Vista Equity Partners
Vista is a leading global investment firm with more than
View source version on businesswire.com: https://www.businesswire.com/news/home/20250121169669/en/
For Smartsheet
Lisa Henthorn
pr@smartsheet.com
For Blackstone
Matt Anderson
(518) 248-7310
matthew.anderson@blackstone.com
For Vista Equity Partners
Brian Steel
(212) 804-9170
media@vistaequitypartners.com
Source: Smartsheet
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