Vista Equity Partners Completes Acquisition of Cvent

Vista Equity Partners Completes Acquisition of Cvent
 

TYSONS CORNER, Va. – Cvent, Inc. (NYSE: CVT), a leading cloud-based enterprise event management company, today announced that it has been acquired by Vista Equity Partners ("Vista"), a leading private equity firm focused on investments in software, data, and technology-enabled businesses. The $1.65 billion transaction, originally announced April 18, 2016, was completed on Tuesday, November 29, 2016. Cvent's shareholders approved the agreement on July 12, 2016. Following the transaction, Reggie Aggarwal will remain the Chief Executive Officer and President of Cvent. Cvent will continue to operate as Cvent, Inc.

"We see tremendous value in the cloud-based solutions that Cvent delivers to its customers in this largely untapped meetings and events industry," said Brian Sheth, co-Founder and President of Vista. "We are thrilled to welcome Cvent into the Vista portfolio of high-performing software companies and are excited to partner with Reggie and his team as they continue to build upon the strong foundation they have already established."

"Cvent is extremely pleased to close this transaction and believe that it is the right move for our customers, employees and investors," said Reggie Aggarwal, founder and Chief Executive Officer and President of Cvent. "We look forward to working with Vista to continue to innovate the meetings and events technology space."

Cvent's common stock has ceased to be traded on NYSE on November 29, 2016.

Wilson Sonsini Goodrich & Rosati served as legal advisor to Cvent. Kirkland & Ellis LLP served as legal advisor to Vista.

About Cvent

Cvent is a leading meetings, events, and hospitality technology provider with 4,800+ employees and ~22,000 customers worldwide as of December 31, 2023. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the event management lifecycle and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com

About Vista Equity Partners

Vista, a U.S.-based private equity firm with offices in San Francisco, Chicago and Austin with more than $28 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.