LOUIS, Mo. — Just about a month after it received an infusion of growth equity funding from private equity firm Cove Hill Partners, leading trade show and venue software provider Ungerboeck announced it was merging with EventBooking, another leader in event booking and venue management software space. Manish Chandak of Ungerboeck will continue to lead the team of the newly merged company as President and CEO, and EventBooking’s Steve Mackenzie will serve as Executive Vice President.
“Cove Hill Partners supports our vision of creating the world’s leading unified and intelligent event platform,” said Chandak. “We have a new partner that believes in the innovation and rapid growth that Ungerboeck is poised to provide.”
Right now, the industry is fragmented on a technology level, which makes data exchange, integration and collaboration difficult, he said. “It is really crying out for better data insights, integrations and intelligence across variety of partners in this industry who tend to get bogged down with manual and spreadsheet processes. Our focus on venues, exhibition organizers and service providers gives us a unique advantage in creating planner and exhibitor experiences that address the entire event life cycle.”
“Once we had the funding to back our vision, the next step was to get some scale. The merger with EventBooking immediately brings close to 1,000 venues into the company to provide that scale,” Chandak said.
The goal of the new company, which will continue under the Ungerboeck name, is to continue to drive innovation that will make customers more successful through a unified set of values and a shared roadmap. The merged company will continue using the EventBooking and VenueOps brands for that company’s products.
Along with the growth in venue management, the company has also recently grown significantly in the exhibitions space with its floor planning and exhibitor portal products as well as the launch of its Exhibitor Service Center a few years ago, which is designed to enable venues and service providers to sell seamlessly to exhibitors.
“This is just the first of the tangible steps we’re going to take over the next few years as we grow and look at the future,” Chandak said. Stay tuned for future growth for Ungerboeck regarding exhibitions, organizers, and service providers as it continues to seek ways to erase boundaries, streamline processes, and drive efficiency among the many different players.”
He continued, “The growth equity funding partnership with Cove Hill Partners is really about driving innovation and better returns on R&D through scale and function. With insights across so many customers globally we will be able to bring value to our customers through data exchange and insights that we could not bring otherwise. The funding will allow us to grow organically and make strategic acquisitions to address the entire life cycle of an event. We are building a platform that will provide business flexibility, with zero integration challenges, as venues and event organizers evolve their business models.”
Other industry players also greeted the merger with enthusiasm. Brad Mayne, CEO of International Association of Venue Managers (IAVM), said: “IAVM is delighted with the news of this merger. Not only have Ungerboeck and EventBooking been long-standing IAVM members, but they have also contributed immensely to areas such as our education and diversity initiatives that make the lives of industry professionals better. I’m looking forward to the innovation and service levels that this merge will bring to our members.”
Reach Manish Chandak at (636) 300-5606 or Manish.Chandak@ungerboeck.com; and Brad Mayne at (972) 538-1021 or Brad.Mayne@iavm.org