Blackstone, Vista Reach $8.4 Billion Deal to Buy Smartsheet (1)

Blackstone Inc.and Vista Equity Partners have agreed to acquire software provider Smartsheet Inc. for about $8.4 billion in one of the year’s largest take-private deals.

The buyout firms will pay $56.50 a share in cash for Bellevue, Washington-based Smartsheet, according to a statement on Tuesday. Abu Dhabi Investment Authority is also part of the buying consortium, a separate filing with the Securities and Exchange Commission shows.

The acquisition price represents a premium of roughly 41% to Smartsheet’s volume-weighted average closing price for the 90 trading days ending July 17, the last full trading day prior to reports of a ...