Cvent Enters into Definitive Agreement to be Acquired by Vista Equity Partners for $1.65 Billion

Published on : Monday, April 18, 2016

Cvent logoCvent, Inc., a leading cloud-based enterprise event management company, today announced that it has entered into a definitive agreement to be acquired by affiliates of Vista Equity Partners (“Vista”), a leading private equity firm focused on investments in software, data and technology-enabled businesses.

The terms of this all-cash deal provide substantial value to Cvent stockholders. Vista will acquire 100 percent of the outstanding shares of Cvent common stock for a total value of approximately $1.65 billion. Cvent stockholders will receive $36.00 in cash per share, representing a premium of approximately 69 percent over Cvent’s closing price on April 15, 2016 and a 70 percent premium to Cvent’s average closing price over the past 30 trading days.

“We are pleased to announce this transaction that provides a significant premium for Cvent stockholders,” said Reggie Aggarwal, founder and CEO of Cvent. “This milestone is the next chapter in our 17-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.”

“Reggie and the Cvent team have built a leading portfolio of products and are positioned for expansion in a large and underpenetrated market,” said Brian Sheth, co-founder and President of Vista. “We are excited to work with the Cvent team to lead the business into this next phase. Over the last several years, Vista has developed a leading portfolio of meeting technology providers. This acquisition is our most significant investment in this space, and further solidifies our commitment to the broader industry.”

Cvent will become a privately held company. Cvent’s Board of Directors unanimously approved the deal and recommended that stockholders vote their shares in favor of the transaction. Cvent’s headquarters will remain in Tysons Corner, VA. Closing of the deal is subject to customary closing conditions, including the approval of Cvent stockholders and required regulatory approvals. The transaction is expected to close in the third calendar quarter of 2016.

Morgan Stanley is serving as financial advisor to Cvent, and Wilson Sonsini Goodrich & Rosati, Professional Corporation is serving as legal advisor to Cvent. Vista’s legal advisor is Kirkland & Ellis LLP.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 AIME 2018 BB
  • 02 WTM Latin America 2018
  • 03 EMITT 2018
  • 04 AIME-2018 small
  • 05 itb-china 2018
  • 06 Central & Eastern Europe 2018
  • 06 imtm 2018
  • 06 TTF-2018
  • 07 balttour 2018
  • 07 ibtm arabia 2018
  • 08 mice-arabia 18
  • 08 OTM 2018
  • 09 The hotel shows audiarabia 18
  • 10 hotelfair 2018
  • 10 miceforum 18
  • 11 Digital Travel 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com