Blackstone—with a minority share investment from the Abu Dhabi Investment Authority—announced this week it has entered into an agreement to acquire the meetings, events and hospitality platform Cvent for $4.6B.
Vista Equity Partners, a majority stockholder of Cvent, announced it will invest a portion of the proceeds from the sale as "non-convertible preferred stock in financing for the transaction," the company said in a statement.
Cvent stockholders will get $8.50 per share in cash under the terms of the agreement. According to the company's last year-end report, Cvent has about 22,000 clients internationally in hospitality, corporate, nonprofit and higher education sectors.
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