Events software vendor Cvent rebuffs $3.9B Blackstone bid

Business & FinanceDeals

Reuters was first to report that Cvent Holding Corp, a U.S. software provider that facilitates in-person and virtual meetings, rejected a $3.9 billion acquisition offer from buyout firm Blackstone Inc. Blackstone is taking a break from the negotiations after Cvent rejected its $8-per-share offer as too low. 

Market Impact

In the third quarter, Cvent reported adjusted earnings before interest, taxes, depreciation and amortization of $33.7 million, up from $23.4 million a year ago. Revenue jumped 20.3% year-on-year to $161.3 million.

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Americas

Countries: United States

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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