Event management technology specialist Cvent, whose offer includes online survey technology, is to be acquired by affiliates of private equity firm Vista Equity Partners for approximately $1.65 billion.
Cvent's key products cover web-based software for meeting site selection, online event registration, event management and e-mail marketing.
The deal gives Vista 100% of the outstanding shares of Cvent common stock, for which stockholders will receive $36.00 in cash per share. Cvent will become a privately held company, and its headquarters will remain in Tysons Corner, VA.
CEO Reggie Aggarwal (pictured) comments: 'This milestone is the next chapter in our seventeen-year history. With Vista's financial strength to invest in Cvent now and in the future, we will be better positioned to deliver innovative solutions that transform the meetings and events industry, and to offer employees new opportunities for career growth'.
Web site: www.cvent.com .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.