Blackstone, Vista Equity Partners reach $8.4-billion deal to buy Smartsheet

Blackstone and Vista Equity Partners have agreed to acquire software provider Smartsheet for about $8.4 billion. The buyout firms will pay $56.50 a share in cash, representing a premium of roughly 41% to Smartsheet's average closing price over the past 90 trading days. Shares in Smartsheet rose 6% following the announcement.