LONDON, UK – January 7, 2015 - Cvent, Inc., a leading cloud-based enterprise event management platform, today announced the acquisition of Elite Meetings International (EMI), a Santa Barbara, Ca.-based premier hospitality marketing company. Terms of the purchase were not disclosed.

EMI's online venue-sourcing tools for meeting planners – EliteMeetings.com and SpeedRFP.com – will be integrated into Cvent's growing hospitality cloud offering.

"We are excited about the acquisition because EMI is a natural fit in our growing portfolio of solutions and will benefit both meeting planners and hospitality marketers," said Reggie Aggarwal, founder and CEO of Cvent. "Cvent is dedicated to creating the most comprehensive marketplace for group business – connecting meeting planners with hotels and venues worldwide."

The EMI acquisition provides Cvent with a growing network of meeting planners who are actively sourcing event venues globally. It also provides white-label technology that powers group business sourcing on hundreds of hotel websites and enables those clients to easily manage all of their electronic Request for Proposals through one central interface.

"We have known and respected Cvent for years as the market leader," said Kelly Foy, founder and CEO of EMI. "We think this combination will bring powerful value to meeting and event planners across the globe, not only for locating the most attractive luxury and upscale hotels for group business but also for sourcing venues across all markets with the most dynamic, innovative tools and integrated solutions."

Cvent expects the financial impact of the transaction to be immaterial to revenue in 2015 and to be dilutive to 2015 adjusted EBITDA by approximately $3.5 million.