US-based Cvent Holding Corp is reportedly exploring a sale that could value the cloud-based event-software provider at $4bn, according to reports in the Wall Street Journal and Reuters. The current market valuation of the company is around $3.3bn, a long way from the 2021 high point.
Private equity firms including Blackstone Inc are thought to have been exploring a possible deal for the company that offers a range of products for automating the event management process. The news pushed the company’s shares 23% higher on 31 January, up roughly 1% in trading.
Blackstone acquired event tech provider PSAV, now Encore, in 2018 and is owner of the NEC in the UK – also bought in 2018, for around £800m.
Cvent could return to private hands, where it was in 2016, when PE firm Vista Equity Partners acquired the company for $1.6bn. In 2021 Dragoneer took the company public.
CMW asked Cvent, which has over 4,500 staff worldwide, for a comment on the situation. The company replied: “As a matter of corporate policy, Cvent does not comment on market rumours or speculation.”
