On December 4, 2024, Alamar Capital Management announced that after careful and extensive analysis, it urges fellow Smartsheet Inc. stockholders to vote against the recently proposed $8.4 billion acquisition by private equity firms, Vista Equity Partners and Blackstone, due to an undervalued offer that fails to reflect the Company's true potential. Alamar Capital Management stated that the proposed deal, announced on September 24, 2024, offers $56.50 per share in cash for the Company. Alamar Capital Management added that this price significantly undervalues the Company's innovative technology, market position, and future growth prospects.
Alamar Capital Management also urges all the Company shareholders to carefully consider the long-term implications of this acquisition and vote against the proposed merger at the upcoming shareholder meeting.