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November 29, 2016

Americas: Vista Seals the Cvent/Lanyon Merger Deal

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reggie aggarwal

Cvent and Lanyon Solutions have officially merged into one global meeting, event, and travel technology company. Lanyon’s owner, Vista Equity Partners, reported that it has completed the purchase, announced earlier this year, of all outstanding Cvent common stock for $36 a share, making this an approximately $1.65 billion deal. Both companies are lead players in the cloud-based enterprise event management technology arena.

Beginning today, the companies will merge operations—creating a combined staff of more than 800 technology professionals and 700 support staff—over the course of the next year. The new privately held company will operate under the Cvent brand, and Cvent Founder and CEO Reggie Aggarwal will serve as CEO. Lanyon CEO David Bonnette will help with the transition. The new company will be headquartered in Tysons Corner, Va., though it will maintain “a significant presence” in Dallas, where Lanyon formerly was headquartered.

Read more at MeetingsNet

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