ON24 Enters into Definitive Agreement to be Acquired by Cvent

ON24, a leading intelligent engagement platform for B2B enterprise sales and marketing has entered into a definitive agreement to be acquired by Cvent, an industry-leading meetings, events, and hospitality technology provider. The agreement reflects an all-cash transaction for a total consideration of approximately $400 million.

The proposed transaction brings together two complementary platforms serving enterprise marketers and event professionals. ON24’s reliable and secure enterprise-grade webinar and digital engagement capabilities, first party engagement data, and AI-powered workflows complement Cvent’s robust event technology offerings. With a full suite of solutions that power high-impact digital and in-person experiences, Cvent and ON24 are well positioned to support marketing, sales, customer success and event teams as buying journeys become more digital and complex.

“We are pleased to announce this transformative transaction which marks an important new chapter for ON24,” said Sharat Sharan, co-founder, Chairman and CEO of ON24. “We’re proud of our global, AI-powered, intelligent engagement platform which enables enterprises to effectively interact with their customers. I would like to thank our talented team around the globe for what they have helped build at ON24, and I look forward to the next phase of ON24’s journey.

Also Read: Cvent Enhances Event Marketing via LinkedIn Ads Integration

“ON24 has earned the trust of enterprise organizations and marketers by delivering reliable, outcome-driven digital engagement,” said Reggie Aggarwal, Founder and Chief Executive Officer of Cvent. “We look forward to supporting ON24 as they continue to deliver value and working together to expand how brands engage audiences across digital and in-person experiences.”

SOURCE: Cvent