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January 9, 2015

Cvent Acquires Elite Meetings International

Cvent, a cloud-based enterprise event management platform, has acquired Elite Meetings International, a Santa Barbara, Ca.-based hospitality marketing company. Terms of the purchase were not disclosed.

EMI’s online venue-sourcing tools for meeting planners – EliteMeetings.com and SpeedRFP.com – will be integrated into Cvent’s hospitality cloud offering.

"We are excited about the acquisition because EMI is a natural fit in our growing portfolio of solutions and will benefit both meeting planners and hospitality marketers," Reggie Aggarwal, founder and CEO of Cvent, said in a statement

The EMI acquisition will provide Cvent with a growing network of meeting planners who are actively sourcing event venues globally. It also provides white-label technology that powers group business sourcing on hundreds of hotel websites and enables those clients to manage all of their electronic Request for Proposals through one central interface.

Cvent expects the financial impact of the transaction to be immaterial to revenue in 2015 and to be dilutive to 2015 adjusted EBITDA by approximately $3.5 million.

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