European Union: Closed European Commission investigation into acquisition of Smartsheet by Vista Equity Partners and Blackstone

On 8 January 2025, the European Commission announced its decision to approve the acquisition of Smartsheet by Vista Equity Partners and Blackstone under the EU Merger Regulation. The transaction, valued at approximately USD 8.4 billion, involved two private equity firms jointly acquiring control of Smartsheet, a leading provider of collaborative work management software. After an evaluation under the simplified merger review procedure, the Commission concluded that the deal would not raise competition concerns due to the limited combined market position of the parties in the relevant software markets. The decision clears the way for the acquisition to proceed, reflecting the Commission's confidence that it will not harm competition or adversely impact consumers in the EU.