SMARTSHEET GOES PRIVATE IN $8.4B DEAL WITH VISTA EQUITY PARTNERS AND BLACKSTONE

Summary from the TLDR Founders newsletter

Smartsheet has agreed to be acquired by private equity firms Blackstone and Vista Equity Partners for $8.4 billion, transitioning back to a private company after six years of being publicly traded. This all-cash deal, which values Smartsheet at a significant premium, is expected to close in January pending shareholder approval and includes a period for exploring other offers. Smartsheet, known for its cloud-based work management tools, serves a vast array of Fortune 500 companies and has seen substantial revenue growth alongside reduced operating losses.