Smartsheet, a leading platform for enterprise work management, has been acquired for $8.4 billion in a deal spearheaded by Blackstone and Vista Equity Partners. The Abu Dhabi Investment Authority (ADIA) has been named as a key co-investor in this high-profile transaction. The acquisition aims to accelerate Smartsheet’s growth, with the company serving a substantial portion of Fortune 500 firms. This private-equity-backed buyout continues Blackstone’s push into tech investments, with Vista contributing expertise in enterprise software deals.
This major transaction highlights the growing investor interest in SaaS platforms, with Blackstone and Vista leveraging their considerable experience in the tech sector. Smartsheet has seen increased adoption across major corporations, underscoring the ongoing transformation of work management processes. As part of this deal, the company’s management team will remain in place to ensure continuity as they navigate the future of enterprise innovation.
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