Blackstone completes $4.6B acquisition of Tysons-based Cvent

(Courtesy Cvent) The acquisition also includes a wholly-owned subsidiary of the Abu Dhabi Investment Authority, which is now a minority owner along with Blackstone. Cvent went public on the Nasdaq one year ago, after emerging from the pandemic, which virtually shut down demand for its events planning services. Cvent partners with hotels and events venues to match them with meeting, travel and wedding planners. “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,” said David Schwartz, senior managing director at Blackstone. “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.” It is the second time in seven years Cvent has been acquired.