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Smartsheet (NYSE:SMAR) rose 2.2% amid a report that private equity firm Vista Equity and Blackstone (BX) are near a deal to acquire the collaboration software maker for about $8 billion.
The PE firms are discussing an offer of about $56 a share for Smartsheet (SMAR), according to a Reuters report on Monday, which cited people familiar with the matter. A deal could be signed in the coming weeks.
The Smartsheet (SMAR) update comes after Reuters reported earlier this month that an investor consortium including Vista and Blackstone (BX) were in talks to buy the company.
The Reuters first reported in July that Smartsheet (SMAR) was is in discussions with investment bankers after seeing acquisition interest from buyout firms. The original Reuters report on July 18 sent Smarsheet shares up 5.5%.
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