TYSONS, Virginia—Cvent Holding Corp. announced the completion of its acquisition by an affiliate of private equity funds managed by Blackstone for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion.
The transaction, which was previously announced on March 14, 2023, includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation from existing stockholder Vista Equity Partners. As a result of the transaction, Cvent’s common stock has ceased trading and will be delisted from the Nasdaq Stock Market.
Reggie Aggarwal, founder and CEO of Cvent, commented, “Events are more important and more complex than ever before. We believe this partnership with Blackstone positions Cvent to continue leading the market for best-in-class technology to maximize event ROI and impact. We will continue to aggressively invest in the innovative solutions organizations need to more deeply engage with their customers, prospects, and employees that are so critical to their success.”
David Schwartz, a senior managing director at Blackstone, said, “Cvent has long been a go-to event management partner for organizations of all kinds, enabling them to embrace technology solutions in an increasingly digital world. We’re thrilled to support its continued growth and product advancements, bringing Blackstone’s global resources to bear and leveraging the firm’s deep expertise and thematic focus on hospitality, events, and real estate.”
“Vista is proud of the partnership we’ve built with Reggie; the transformative change that Cvent has driven in the meetings and events ecosystem is a testament to how we help founders realize their company vision,” said Monti Saroya, co-head of Vista’s Flagship Fund and senior managing director. “Both he and his leadership team are torchbearers of innovation, ingenuity, and culture, and we look forward to seeing what they accomplish next.”
