Private equity firms Vista Equity Partners and Blackstone are buying software maker Smartsheet for approximately $8.4 billion in cash.

Private equity firms Vista Equity Partners and Blackstone will buy collaboration-software maker Smartsheet for $8.4 billion, the companies said on Tuesday.The deal values each share of Smartsheet at $56.50.

:Buyout firms Vista Equity Partners and Blackstone will purchase collaboration-software maker Smartsheet for $8.4 bln in one of the largest take-private deals this year, the companies said on Tuesday.Vista and Blackstone have offered $56.50 in cash for each share of Smartsheet, which represents a premium of 2

:Workplace collaboration software maker Smartsheet will be taken private by buyout firms Vista Equity Partners and Blackstone in a deal worth $8.4 billion, the companies said on Tuesday.Smartsheet shareholders will receive a cash payment of $56.50 per share, an 8.5 per cent premium over the last closing price

The $8.4 billion deal is expected to close in January 2025, and the collaboration software maker has the option to solicit other bids.