Blackstone completes take-private buyout of Cvent for $4.6bn

• As a result of the closing, Cvent will no longer trade on the NASDAQ
• Qatalyst Partners acted as financial advisor to Cvent while Evercore, Morgan Stanley and UBS acted as financial advisors to Blackstone
• Cvent is founded in 1999

Blackstone has closed its previously announced take-private buyout of Tysons Corner, Virginia-based Cvent Holding Corp, a meetings, events and hospitality technology provider, for about $4.6 billion.

The seller is Vista Equity Partners.

As a result of the closing, Cvent will no longer trade on the NASDAQ.

On the deal, David Schwartz, a senior managing director at Blackstone, said in a statement, “Cvent has long been a go-to event management partner for organizations of all kinds, enabling them to embrace technology solutions in an increasingly digital world. We’re thrilled to support its continued growth and product advancements, bringing Blackstone’s global resources to bear and leveraging the firm’s deep expertise and thematic focus on hospitality, events and real estate.”

Qatalyst Partners acted as financial advisor to Cvent, and Kirkland & Ellis LLP acted as legal counsel to Cvent.

J.P. Morgan Securities LLC acted as financial advisor to the Special Committee, and Goodwin Procter LLP acted as legal counsel to the Special Committee.

Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone, and Evercore, Morgan Stanley & Co. LLC and UBS acted as financial advisors to Blackstone.

Cvent is founded in 1999.

Blackstone has $991 billion in assets under management.