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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsOn September 24, 2024, Smartsheet agreed to be acquired by funds managed by Vista Equity Partners and Blackstone in an all-cash deal valued at approximately $8.4 billion. The announced terms called for shareholders to receive $56.50 per share. The acquisition closed on January 22, 2025, and Smartsheet is now privately held rather than listed on the New York Stock Exchange.
What were the announced terms?
Smartsheet said the definitive agreement valued the transaction at approximately $8.4 billion. Under its terms, shareholders were to receive $56.50 in cash for each share, subject to the merger agreement. The $8.4 billion figure is the approximate total transaction value; $56.50 is the announced per-share consideration.
The company described the price as an approximately 41% premium to its 90-day volume-weighted average closing price for the 90 trading days ending July 17, 2024. That date was identified as the last full trading day before media reports about a possible sale. The premium therefore refers to that specific historical average, not to an unspecified share price or a guarantee of investment return. Smartsheet’s September 24, 2024 announcement set out the transaction figures.
Who was involved in the acquisition?
The headline names Vista Equity Partners and Blackstone because funds managed by those firms agreed to acquire Smartsheet. The legal structure was broader than those two names alone: Smartsheet’s SEC filing identifies Einstein Parent, Inc. and Einstein Merger Sub, Inc., and describes their affiliations with funds managed by Blackstone and Vista, as well as a wholly owned subsidiary of the Abu Dhabi Investment Authority. Following the merger, Smartsheet became a wholly owned subsidiary of the parent. The SEC-filed merger agreement provides the transaction structure.
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How did the deal process unfold?
The agreement provided for a 45-day go-shop period, which ended November 8, 2024. A go-shop provision gives a company a defined period to solicit or consider competing acquisition proposals under the agreement’s conditions; its inclusion did not mean a competing offer was made or accepted. Blackstone’s announcement and Smartsheet’s announcement stated the period and its end date.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Did the acquisition close, and what happened to Smartsheet stock?
Yes. Smartsheet announced that the acquisition was completed on January 22, 2025. Its closing filing reported approximately $8.4 billion in total shareholder consideration, consistent with the approximate value announced in 2024. Smartsheet became privately held, and its shares ceased trading on the NYSE. The announcement is no longer a pending offer, and Smartsheet stock is no longer publicly listed. Smartsheet’s closing announcement and its January 22, 2025 SEC filing document the completion.
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