Cvent jumps on report of takeover interest
Jan. 31, 2023 3:53 PM ETCvent Holding Corp. (CVT)BXBy: Joshua Fineman, SA News Editor
- Cvent (NASDAQ:CVT) soared 15% after a report that the cloud-based event-software maker is exploring a sale that could be valued at more than $4 billion.
- Cvent (CVT) has garnered interest from private equity firms including Blackstone (BX), according to a WSJ report. There's no certainty that a deal will happen. Cvent has a market cap of $3.2 bilion.
- Cvent (CVT) shares had dropped 33% since going public through a SPAC deal in early December 2021.
- Cvent (CVT) in not new to private equity owners as the company was taken private in 2016 by Vista Equity Partners for $1.65 billion.