Blackstone acquires Cvent stake from Vista in $1.3bn deal
Blackstone has acquired the remaining stake in US-based Cvent from Vista Equity Partners for $1.3bn, reported Bloomberg, citing sources.
The transaction marks Vista’s complete exit from Cvent, a Virginia-based software company.
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Vista retained this stake following Blackstone’s $4.6bn acquisition of Cvent in 2023.
Representatives from both Vista and Blackstone declined to comment on the deal.
Cvent’s platform provides software tools designed for event planners and marketers, enabling online registration, venue sourcing, event marketing and management, virtual and in-person event solutions, and attendee interaction.
Founded in 1999, Cvent had more than 5,000 employees and more than 24,000 customers worldwide as of 31 December 2024.
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By GlobalDataVista initially invested in Cvent in 2016, purchasing the company for approximately $1.7bn.
Throughout its ownership, Cvent navigated the challenges posed by the pandemic, which severely impacted the events and hospitality sector.
The company has since rebounded, with a surge in events and the adoption of hybrid in-person and virtual conferences.
Vista had previously rolled a portion of its ownership into Blackstone’s take-private of Cvent through a non-convertible preferred equity investment.
The acquisition is the second recent monetisation event for Vista, which recently raised $5.6bn to maintain its ownership of Cloud Software Group.
Investors in Vista’s fifth buyout fund received a 4.1 multiple on invested capital if they opted to cash out.
In May, Vista agreed to acquire Acumatica, a cloud enterprise resource planning (ERP) solutions provider for small and mid-sized businesses.
The deal valued the company at around $2bn, including debt.
Acumatica’s platform supports mid-market organisations by automating critical processes such as financial management, payroll, and customer relationship management.
The cloud-native platform offers AI-driven visibility across businesses, with industry-specific functionality tailored to sectors like manufacturing, distribution, construction, retail, and professional services.
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