Event software firm Cvent Holding explores sale - source (updated)
31/01/2023 22:10
(Changes sourcing, updates shares)
Jan 31 (Reuters) - Cvent Holding Corp CVT.O is
exploring a sale that could value the cloud-based event-software
provider at about $4 billion, a person familiar with the matter
told Reuters on Tuesday.
The firm has attracted interest from private equity firms
including Blackstone Inc BX.N , the source added.
Shares in the company closed nearly 23% higher on Tuesday
after the potential sale was reported in the media. Stock was up
roughly 1% in after market trading.
Cvent did not immediately respond to a Reuters request for
comment on the report, while Blackstone declined to comment.
The potential sale was first reported by the Wall Street
Journal.
(Reporting by Chibuike Oguh in New York and Manya Saini in
Bengaluru; Editing by Shailesh Kuber)
((Manya.Saini@thomsonreuters.com;))