Blackstone buys out Cvent stake from Vista for $1.3bn, marking Vista's complete exit.

Blackstone acquires the remaining stake in Cvent from Vista Equity Partners for $1.3bn, marking Vista’s complete exit from the Virginia-based software company. Cvent’s platform serves event planners and marketers with tools for online registration, venue sourcing, event marketing, and attendee interaction. The company had 5,000+ employees and 24,000+ customers worldwide as of December 31, 2024.

Vista initially invested in Cvent in 2016 for about $1.7bn and retained a stake after Blackstone’s $4.6bn acquisition in 2023. Despite pandemic challenges, Cvent rebounded with a surge in events and hybrid conferences. Vista had previously rolled a portion of its ownership into Blackstone’s take-private deal for Cvent.

Vista recently raised $5.6bn to maintain ownership of Cloud Software Group, offering investors in its fifth buyout fund a 4.1 multiple on invested capital if they cash out. In May, Vista agreed to acquire Acumatica, a cloud ERP solutions provider for small and mid-sized businesses, valuing the company at around $2bn, including debt. Acumatica’s platform supports mid-market organisations with AI-driven visibility and industry-specific functionality.

Read more at Yahoo Finance: Blackstone acquires Cvent stake from Vista in $1.3bn deal