This Just In
  • The Meetings Mean Business Coalition (MMBC) relaunched its Worth Meeting About campaign to highlight the value of face-to-face meetings.
  • The campaign will crowdsource stories & testimonials on social media to develop a set of case studies and to create an online conversation.
  • Cobo Center will host the North American International Auto Show through 2025, after the show signed a new 8-year deal with Cobo in July.
  • SMG, which manages Cobo, signed its first agreement with the auto show in 2012. The NAIAS annually draws more than 800,000 attendees.
  • Effective Aug 1, 2017, the San Diego Convention Center (SDCC) will transition to ESCA's Worker Identification System (WIS) Badge.
  • The change takes full effect in Jan 1, 2018. Show workers will be required to carry a WIS badge or the credential issued by the SDCC.
  • The Consumer Technology Association, organizers of the annual CES show, was named one of Washington’s Top Workplaces by the Washington Post.
  • The CTA has made the prestigious list for four consecutive years. The rankings are based on employee responses about workplace culture.
  • Comexposium has launched a joint venture with Indonesia’s Amara Group. The partnership includes running the GIIAS auto show in Jakarta.
  • The partnership plans to increase international attendance at GIIAS and launch a new expo for Indonesia’s bus-and-truck market.

Software Equity Firm Pays $1.65 Billion for Cvent

Hil Anderson
, Senior Editor
April 20, 2016
Share On:

Tysons Corner, VA – The equity firm that owns the event management organization ACTIVE Network is adding Cvent to its portfolio for a hefty $1.65 billion in cash.

The immediate goal of Vista Equity Partners is to take Cvent private and bolster Vista’s overall position in the event technology market.

“Vista has developed a leading portfolio of meeting technology providers over the last several years,” said Vista President Brian Sheth. “This acquisition is our most significant investment in this space, and further solidifies our commitment to the broader industry.”

The Cvent board of directors has approved the acquisition, and the sale will close sometime in the Third Quarter. Cvent will remain in its suburban Washington location with a new source of capital at its disposal. “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,” said Cvent CEO and founder Reggie Aggarwal.

Cvent specializes in software for trade show managers and event planners. Its menu covers the gamut of services, including registration, marketing, mobile apps and venue selection. It provided registration services for the PLMA Private Label Trade Show, which was ranked 69thon the most recent Trade Show Executive Gold 100.

Cvent will join ACTIVE NETWORK in Vista’s portfolio of event technology companies. ACTIVE Network, LLC specializes in event management and marketing solutions, primarily in the recreation and sporting enthusiast events such as marathons, triathlons, ski resorts and campgrounds.

“The Cvent team has built a leading portfolio of products and is positioned for expansion in a large and under-penetrated market,” said Sheth. “We are excited to work with the Cvent team to lead the business into this next phase.”

 

Reach Brian Sheth at (512) 730-2400 or bsheth@vistaequitypartners.com; Reggie Aggarwal at (703) 226-3500 or raggarwal@cvent.com

Share On: