Robert F. SMITH Makes a Major Acquisition • Hollywood Unlocked

Vista Equity PartnersRun by billionaire Robert F. Smithreportedly Partners with Blackstone to acquire SmartsheetPopular enterprise business management platform.

According to multiple reports, Smith made the purchase all in cash, costing him approximately $8.4 billion. This acquisition makes it one of the largest recent acquisitions in the software space.

Smartsheets CEO Mark Mader stated that he believes this partnership will help the series continue to grow. “For over a decade, we have built a thriving community of employees, partners and customers, each focused on building and leveraging Smartsheet’s industry-leading work management platform. The next phase of growth and customer success is underway. “We look forward to partnering with Blackstone and Vista Equity Partners to accelerate our vision of modernizing business management for enterprises globally,” said Mark Mader.

“Modern businesses rely on Smartsheet’s simple and scalable solutions to manage a wide range of business-critical processes every day because they enable seamless collaboration, enhanced productivity, and faster, more informed decision-making,” said Vista Co-President Monti Saroya. John Stalder, managing director of Flagship Fund and Vista, said in a joint statement.

“We look forward to partnering closely with Blackstone and Smartsheet to support its ambitious goal of making its platform accessible to every organization, team and employee, relying on collaborative working to deliver successful results,” they added.