Economic news
Blackstone to acquire Cvent in deal valued at $4.6 billion
2023.03.14 08:32
© Reuters. FILE PHOTO: Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon
(Reuters) -Cvent Holding Corp said on Tuesday buyout firm Blackstone (NYSE:) Inc would purchase the U.S. software provider that facilitates in-person and virtual meetings in a deal valued at $4.6 billion.
Cvent said its shareholders would receive $8.50 per share, adding that a subsidiary of the Abu Dhabi Investment Authority (ADIA) will be a significant minority investor.
The offer price represents a premium of about 29% from Jan. 30, before media reports of a potential deal surfaced.
Reuters had previously reported that Cvent was exploring a sale of the company.
