Blackstone Inc. ( BX ) and Vista Equity Partners, part of a private equity consortium, are reportedly in talks to acquire Smartsheet Inc. ( SMAR ) , which has a market value of around $7 billion.

A deal could be finalized in the coming weeks if discussions remain on track, reported Reuters. The specific terms of the potential agreement have not yet been disclosed.

As per the report, Smartsheet ( SMAR ) has not responded to requests for comment, while Vista, which holds a 4.7% stake in the company, and Blackstone declined to comment.

On Thursday, Smartsheet ( SMAR ) reported a second-quarter adjusted EPS of $0.44, surpassing the $0.29 estimate. Sales reached $276.41 million, beating the $274.19 million estimate.

Blackstone has been on an acquisition spree lately. Yesterday, Blackstone and CPP Investments announced that they are set to acquire AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for over A$24 billion.

On Monday, Blackstone affiliates reached a deal to acquire an 80% stake in the Burstone Group’s Pan-European Logistics (PEL) platform, valued at €1.022 billion (R20 billion).

Investors can gain exposure to the BX stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF and Invesco Global Listed Private Equity ETF ( PSP ) .

Price Action: BX shares are up 0.94% at $139.57 and SMAR stock is up 8.62% at $53.67 at the last check Friday.

Image via Unsplash/ Headway

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