Home » News
25.04.2016
13:03

Vista to Acquire Cvent for $1.65 billion

picture: Cvent

Cvent, Inc., one of the leading cloud-based enterprise event management companies, announced that it has entered into a definitive agreement to be acquired by affiliates of Vista Equity Partners (Vista), a private equity firm focused on investments in software, data and technology-enabled businesses.
 
The terms of the all-cash deal are supposed to provide substantial value to Cvent stockholders. Vista will acquire 100 percent of the outstanding shares of Cvent common stock for a total value of approximately $1.65 billion. Cvent stockholders will receive $36.00 in cash per share, representing a premium of approximately 69 percent over Cvent's closing price on April 15, 2016 and a 70 percent premium to Cvent's average closing price over the past 30 trading days.
 
“We are pleased to announce this transaction that provides a significant premium for Cvent stockholders,” said Reggie Aggarwal, founder and CEO of Cvent. “This milestone is the next chapter in our 17-year history. With Vista’s financial strength to invest in Cvent now and in the future, we will be better positioned to deliver innovative solutions that transform the meetings and events industry, and to offer employees new opportunities for career growth.”
 
Cvent will become a privately held company. Cvent’s Board of Directors unanimously approved the deal and recommended that stockholders vote their shares in favor of the transaction. Cvent’s headquarters will remain in Tysons Corner, VA. Closing of the deal is subject to customary closing conditions, including the approval of Cvent stockholders and required regulatory approvals. The transaction is expected to close in the third calendar quarter of 2016.

Aktuelle Ausgabe

Blättern

IMEX E-Mag

Education 12/16

Blättern
Anzeige
Anzeige

Dienstleister für
Ihre Veranstaltung

Sie brauchen noch Hilfe bei Ihrer
Veranstaltung? Klicken Sie hier!

Anzeige
Anzeige

Anzeige
Anzeige
Anzeige
Anzeige
Anzeige