Blackstone and Vista Equity Partners have reached an agreement to acquire software maker Smartsheet for approximately $8.4 billion. This significant deal, regarded as one of the largest take-private transactions of the year, will see Smartsheet's stock price rise as investors respond positively to the news. The acquisition, valued at $56.50 per share, will lead Smartsheet to become a privately held entity under the control of these two private equity firms. Sources indicate that the debt terms for the acquisition have been improved as the deal finalizes. Smartsheet's shares have experienced notable gains following reports and confirmations of the acquisition.