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Cvent Enters Into Definitive Agreement

The following excerpt is from the company's SEC filing.

to be Acquired by Vista Equity Partners for $1.65 Billion

Vista Equity Partners to acquire all outstanding Cvent common stock for $36 per share

Tysons Corner, Va. April 18, 2016 Cvent Inc. (NYSE: CVT) a leading cloud-based enterprise event management company, today announced that it has entered into a definitive agreement to be acquired by affiliates of Vista Equity Partners (Vista), a leading private equity firm focused on investments in software, data and technology-enabled businesses.

The terms of this all-cash deal provide substantial value to Cvent stockholders. Vista will acquir e 100 percent of the outstanding shares of Cvent common stock for a total value of approximately $1.65 billion. Cvent stockholders will receive $36.00 in cash per share, representing a premium of approximately 69 percent over Cvents closing price on April 15, 2016 and a 70 percent premium to Cvents average closing price over the past 30 trading days.

We are pleased to announce this transaction that provides a significant premium for Cvent stockholders, said Reggie Aggarwal, founder and CEO of Cvent. This milestone is the next chapter in our 17-year history. With Vistas financial strength to invest in Cvent now and in the future, we will be better positioned to deliver innovative solutions that transform the meetings and events industry, and to offer employees new opportunities for career growth.

Reggie and the Cvent team have built a leading portfolio of products and are positioned for expansion in a large and underpenetrated market, said Brian Sheth, co-founder and President of Vista. We are excited to work with the Cvent team to lead the business into this next phase. Over the last several years, Vista has developed a leading portfolio of meeting technology providers. This acquisition is our most significant investment in this space, and further solidifies our commitment to the broader industry.

Cvent will become a privately held company. Cvents Board of Directors unanimously approved the deal and recommended that stockholders vote their shares in favor of the transaction. Cvents headquarters will remain in Tysons Corner, VA. Closing of the deal is subject to customary closing conditions, including the approval of Cvent stockholders and required regulatory approvals. The transaction is expected to close in the third calendar quarter of 2016.

Morgan Stanley is serving as financial advisor to Cvent, and Wilson Sonsini Goodrich & Rosati, Professional Corporation is serving as legal advisor to Cvent. Vistas legal advisor is Kirkland & Ellis LLP.

About Cvent

Cvent, Inc. (NYSE: CVT) is a leading cloud-based enterprise event management company, with approximately 16,000 customers and 2,000 employees worldwide. Cvent offers...


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