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Cvent (CVT) Stock Spikes After Agreeing to be Purchased by Vista Equity

NEW YORK (TheStreet) -- Cvent (CVT - Get Report) stock is up by 65.49% to $35.25 on heavy trading volume this afternoon, after the company agreed to be acquired by Vista Equity Partners in a deal valued around $1.65 billion.

Shareholders of the cloud-based software provider will receive $36 per share in cash, representing a 60% premium to Cvent's closing price on April 15, according to a company statement.

Cvent will become a privately held company once the deal...