Smartsheet Set to Be Acquired by Blackstone and Vista Equity Partners for $8.4 Billion
Smartsheet, a leading work management platform, is set to be acquired by Blackstone and Vista Equity Partners in an $8.4 billion deal. This acquisition emphasizes the increasing demand for technology-driven solutions that enhance productivity and collaboration in businesses. With the support of these investment firms, Smartsheet aims to accelerate growth, innovate its platform, and improve customer experience, positioning itself as a leader in the evolving work management landscape.
Smartsheet Reports Strong First Quarter Performance
Smartsheet Inc. (NYSE: NYSE:SMAR) reports a strong first quarter with a 20% increase in total revenue YoY, reaching $263 million. The company’s adjusted EPS of $0.32 exceeded analyst expectations, setting a positive tone for fiscal year 2025. CEO Mark Mader highlights significant demand from enterprise customers and a focus on new product innovations and go-to-market strategy for long-term growth.