Blackstone to acquire Cvent in deal valued at $4.6 bln (updated)
14/03/2023 11:56
(Adds detail on deal, background)
March 14 (Reuters) - Cvent Holding Corp CVT.O said on
Tuesday buyout firm Blackstone Inc BX.N 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.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini
Ganguli)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/HoodieOnVeshti;))