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Cvent is the global meeting, event and travel technology leader.
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Released : Nov 18, 2016
TYSONS CORNER, Va.--(BUSINESS WIRE)--
Cvent Inc. ( NYSE: CVT) ("Cvent"), a leading cloud-based enterprise
event management company, and Vista Equity Partners ("Vista"), a leading
private equity firm focused on software, data and technology-enabled
businesses, today announced that they have received notification from
the U.S. Department of Justice that the Department of Justice has
concluded its investigation into the proposed acquisition of Cvent by an
affiliate of Vista.
Cvent and Vista have agreed that all conditions to the completion of the
merger have now been irrevocably satisfied and that the merger will be
closed on or before November 29, 2016.
Cvent, Inc. (NYSE: CVT) is a leading cloud-based enterprise event
management company, with approximately 16,000 customers and 2,000
employees worldwide. Cvent offers software solutions to event planners
for online event registration, venue selection, event management, mobile
apps for events, email marketing, and web surveys. Cvent provides
hoteliers with an integrated platform, enabling properties to increase
group business demand through targeted advertising and improve
conversion through proprietary demand management and business
intelligence solutions. Cvent solutions optimize the entire event
management value chain and have enabled clients around the world to
manage hundreds of thousands of meetings and events. For more
information, please visit Cvent.com, or connect with us on Facebook,
Twitter or LinkedIn.
Vista, a U.S.-based private equity firm with offices in Austin, Chicago
and San Francisco, with more than $20 billion in cumulative capital
commitments, currently invests in software, data and technology-based
organizations led by world-class management teams with long-term
perspective. Vista is a value-added investor, contributing professional
expertise and multi-level support towards companies realizing their full
potential. Vista's investment approach is anchored by a sizable
long-term capital base, experience in structuring technology-oriented
transactions, and proven management techniques that yield flexibility
and opportunity in private equity investing. For more information,
please visit www.vistaequitypartners.com.
This press release, and the documents to which Cvent refers you in this
communication, contains not only historical information, but also
forward-looking statements made pursuant to the safe-harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements represent Cvent's expectations or beliefs
concerning future events, including the timing of the transaction and
other information relating to the transaction. Forward-looking
statements include information concerning possible or assumed future
results of operations of Cvent, the expected completion and timing of
the transaction and other information relating to the transaction.
Without limiting the foregoing, the words "believes," "anticipates,"
"plans," "expects," "intends," "forecasts," "should," "estimates,"
"contemplate," "future," "goal," "potential," "predict," "project,"
"projection," "may," "will," "could," "should," "would," "assuming" and
similar expressions are intended to identify forward-looking statements.
You should read statements that contain these words carefully. They
discuss Cvent's future expectations or state other forward-looking
information and may involve known and unknown risks over which Cvent has
no control. Those risks include, (i) the risk that the transaction may
not be completed in a timely manner or at all, which may adversely
affect Cvent's business and the price of the common stock of Cvent, (ii)
the failure to satisfy of the conditions to the consummation of the
transaction, (iii) the occurrence of any event, change or other
circumstance that could give rise to the termination of the merger
agreement, (iv) the effect of the announcement or pendency of the
transaction on Cvent's business relationships, operating results and
business generally, (v) risks that the proposed transaction disrupts
current plans and operations and the potential difficulties in employee
retention as a result of the transaction, (vi) risks related to
diverting management's attention from Cvent's ongoing business
operations and (vii) the outcome of any legal proceedings that may be
instituted against us related to the merger agreement or the
transaction. Forward-looking statements speak only as of the date of
this communication or the date of any document incorporated by reference
in this document. Except as required by applicable law or regulation,
Cvent does not undertake to update these forward-looking statements to
reflect future events or circumstances.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161118005148/en/
Cvent, Inc.Nevin Reilly, email@example.com
Source: Cvent Inc.
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