Collaboration software maker Smartsheet announced Tuesday Blackstone and Vista Equity Partners will acquire it in an all-cash deal valuing the company at about $8.4 billion.
Stockholders will receive $56.50 per share, a 41% premium to Smartsheet's average closing price over the last three months.
The company went public in 2018 and sought to go head-to-head with other software companies like Atlassian.
Qatalyst advised Smartsheet.
Goldman Sachs and Morgan Stanley advised the private equity bidders.
Persons:
Smartsheet, Blackstone, Mark Mader, Qatalyst, Goldman Sachs, Morgan Stanley
Organizations:
Blackstone, Vista Equity Partners