Blackstone completes $4.46bn Cvent acquisition
Summary
An affiliate of funds managed by Blackstone has completed the acquisition of Cvent Holding Corp (Cvent), a meetings, events and hospitality technology provider, for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion. The transaction, which was previously announced on 14 March, 2023, includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation from existing stockholder Vista Equity Partners (Vista). As a result of the transaction, Cvent’s common stock has ceased trading and will be delisted from the Nasdaq Stock Market.
Funding
Amount
-
Total raised
Date
June 16, 2023
Announcement date
Investors
Medical Innovation Summit, The Blackstone Group LP
Lead investors
Company
-
Funded company
Classifications
industries
Hospitality
applications
Business Intelligence
AskAI Classifications
Labels
Event Management Software
SaaS
Venue Sourcing Software
Linked Companies
Cvent
$500M to $1B