02:16 PM EDT, 09/05/2024 (MT Newswires) -- A consortium of private equity firms that includes Vista Equity Partners and Blackstone (BX) is in discussions to acquire Smartsheet ( SMAR ) , Reuters reported Thursday, citing people familiar with the matter.

The parties involved could sign a deal in the coming weeks if the talks don't fall apart, the report said.

Smartsheet ( SMAR ), a workplace collaboration software maker, has a market value of approximately $6.9 billion.

Smartsheet ( SMAR ) did not immediately respond to Reuters' requests for comment. Vista, which holds a 4.7% stake in Smartsheet ( SMAR ), and Blackstone declined to comment, the report said.

Neither Smartsheet ( SMAR ), Vista nor Blackstone immediately replied to requests for comment from MT Newswires.

Shares of Smartsheet ( SMAR ) resumed trade following a brief five-minute halt and were 4.9% higher in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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