Smartsheet, the Washington-based work management platform, is being scooped up by private equity giants Vista Equity Partners and Blackstone. This $8.4 billion deal is turning heads, not just for its hefty price tag,

Smartsheet announced Tuesday that it agreed to be acquired by private equity companies Blackstone and Vista Equity Partners in deal valued at $8.4 billion. The acquisition will make Smartsheet a private company again, six years after the Bellevue, Wash.-based enterprise software company went public.

Private equity firms Vista Equity Partners and Blackstone are buying software maker Smartsheet for approximately $8.4 billion in cash.