Cvent Inc. (“Cvent”) and Lanyon Solutions, Inc (“Lanyon”), leading providers of cloud-based enterprise event management technology solutions, yesterday announced the merger of the two companies creating a global meeting, event and travel technology leader. The merger is effective today, and the companies will combine business operations in the coming year.
Vista Equity Partners, owner of Lanyon, has completed its previously announced acquisition of all outstanding Cvent common stock for $36.00 per share in a transaction valued at approximately $1.65 billion.
The combined company will be privately held and operate under the Cvent brand. Reggie Aggarwal, Cvent’s founder and CEO, has been named the CEO of the new combined company. David Bonnette, CEO of Lanyon, will work with the management team through the transition to a single company. The headquarters for the combined company will be in Tysons Corner, Virginia with a significant office presence in Lanyon’s former headquarters in Dallas, Texas.