M&A Deal Summary

The Blackstone Group and Vista Equity Partners Acquire Cvent

On March 14, 2023, private equity firms The Blackstone Group and Vista Equity Partners acquired internet software and services company Cvent for 4.6B USD

Acquisition Highlights
  • This is The Blackstone Group’s 19th and Vista Equity Partners’ 44th transaction in the Internet Software and Services sector.
  • This is The Blackstone Group’s 28th and Vista Equity Partners’ 5th largest (disclosed) transaction.
  • This is The Blackstone Group’s 195th and Vista Equity Partners’ 125th transaction in the United States.
  • This is The Blackstone Group’s 6th and Vista Equity Partners’ 6th transaction in Virginia.

M&A Deal Summary
Date 2023-03-14
Target Cvent
Sector Internet Software and Services
Buyer(s) The Blackstone Group
Vista Equity Partners
Deal Type Going Private
Deal Value 4.6B USD
Advisor(s) Qatalyst Partners LP (Financial)
Kirkland & Ellis (Legal)

Target

Cvent

Tysons, Virginia, United States
website
Cvent's corporate headquarters in Tysons, Virginia.
Cvent's corporate headquarters in Tysons, Virginia.
Cvent is a meeting, events, and hospitality technology provider that delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging impactful experiences. The Company's suite of products automates and simplifies the event management lifecycle and maximizes the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Its solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. Cvent was formed in 1999 and is based in Tysons, Virginia.

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Buyer(S) 2

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 310 of 320
Sector (Internet Software and Services) 19 of 21
Type (Going Private) 30 of 32
State (Virginia) 6 of 6
Country (United States) 195 of 202
Year (2023) 1 of 7
Size (of disclosed) 28 of 167
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-17 R Systems International

Noida, India

R Systems International is a specialized IT Services & Solutions and IT-enabled Services provider catering to a wide range of global customers. R Systems International was founded in 1993 and is based in Noida, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-15 IBS Software

Singapore, Singapore

IBS Software is a global provider of new-generation IT solutions to the travel, transportation and logistics industries. IBS Software was formed in 1997 and is based in Singapore.

Sell -
Buyer

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 136 of 143
Sector (Internet Software and Services) 44 of 47
Type (Going Private) 22 of 24
State (Virginia) 6 of 6
Country (United States) 125 of 131
Year (2023) 2 of 8
Size (of disclosed) 5 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-19 Zapproved

Portland, Oregon, United States

Zapproved is a provider of developing cloud‐based software for corporate legal departments. The Z-Discovery Platform returns power to in‐house corporate legal teams and helps them navigate electronic discovery with minimal risk and cost, and it sets new standards for scalability and intuitive design. Zapproved was founded in 2008 and is based in Portland, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 Benchmark Gensuite

Mason, Ohio, United States

Benchmark Gensuite enables companies to implement cross-functional digital systems for EHS, Sustainability, and ESG Reporting through a unified digital platform—locally, globally and across diverse operating profiles. With configurations, and powerful extensions, the Benchmark Gensuite platform helps companies worldwide manage their EHS, Sustainability; Quality; Operational Risk and Compliance; Product Stewardship, and Supply Chain Risks. Benchmark Gensuite is based in Mason, Ohio.

Buy -
Mergr

Product

Company

Legal