Business Wire reported on April 18, 2016, that publicly traded, cloud-based enterprise event management company Cvent Inc. had agreed to be acquired by affiliates of Vista Equity Partners. Vista, based in Austin, Texas, is a private equity firm investing in software, data and technology businesses.
Vista already owns Dallas-based Lanyon Solutions Inc., which offers RegOnline, another event registration and management software system.
According to the Business Wire story, Cvent will become a privately held company as a result of the deal, and will remain headquartered in Tysons Corner, Va. Vista will acquire all of the outstanding shares of Cvent’s common stock, putting the total value of the merger at about $1.65 billion.
“Competition can be a good thing,” says Joseph Clote, MM&E group publisher. “Time will tell whether this deal is a positive development for the event industry.”
To read the full story, visit http://www.businesswire.com/news/home/20160418005839/en/.