Yes. Smartsheet agreed to be acquired in September 2024, and the deal closed on January 22, 2025. Affiliates of funds managed by Blackstone and Vista Equity Partners participated alongside a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Eligible shareholders were entitled to $56.50 in cash per share; Smartsheet is no longer publicly traded.
From reported talks to a completed acquisition
The “in talks” description is outdated: Smartsheet announced a definitive merger agreement on September 24, 2024. Stockholders approved the transaction on December 9, 2024, and it closed on January 22, 2025. At closing, Smartsheet became a wholly owned subsidiary of the acquisition parent. Smartsheet’s September 2024 SEC filing documents the agreement, while its January 2025 SEC filing records the closing.
Who was involved?
Blackstone and Vista Equity Partners were among the investors, but they were not the only named participants. The SEC filings also identify a wholly owned subsidiary of ADIA, the Abu Dhabi Investment Authority, as part of the sponsor group. This is why describing the acquisition as a Blackstone-and-Vista deal alone leaves out a participant named in the transaction filings.
What the deal terms mean for shareholders
$56.50 per eligible share
The merger agreement provided for eligible shares to be converted into the right to receive $56.50 in cash per share. That is the transaction consideration for eligible shareholders, not a current Smartsheet stock quote.
Approximately $8.4 billion in announced transaction value
Blackstone described the all-cash transaction as valued at approximately $8.4 billion when it was announced in September 2024. That enterprise-level transaction figure and the $56.50 per-share consideration measure different things; they should not be treated as interchangeable. Blackstone’s announcement also said the offer represented a 41% premium to Smartsheet’s volume-weighted average closing price over the 90 trading days ending July 17, 2024. That premium is a historical comparison tied to that period, not a comparison with a current market price.
Smartsheet stock is no longer listed
After the merger closed, Smartsheet shares ceased trading and were delisted from the New York Stock Exchange, according to Vista’s January 22, 2025 completion announcement. Investors should not interpret the $56.50 deal consideration as a live share price or assume the stock remains available for public trading.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the acquisition means for customers
Going private changes Smartsheet’s ownership and public-market status, but the closing announcement does not establish specific customer-facing product changes or outcomes. Smartsheet CEO Mark Mader said the company expected private ownership to support longer-term decision-making and transformation. That is management’s stated rationale, not proof that particular product or service improvements have occurred. Mader’s post-closing explanation describes the company’s perspective.
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