Cvent and Lanyon merge to create travel and meetings tech provider

Freshly acquired Cvent has announced it is merging with fellow events platform and hotel IT provider Lanyon.

Cvent was acquired by Vista Equity Partners for $1.65 billion in April this year – a deal that closed this week.

US-based Lanyon and Cvent are effectively the same company under the Cvent brand with immediate effect, with operations gradually combining over the course of the next 12 months.

Cvent CEO Reggie Aggarwal will become CEO of the merged entity and Lanyon chief David Bonnette will continue for a period to oversee the transition.

Both companies will retain their existing headquarters in Texas and Virginia.

The merged company will have 1,500 staff with  pooled customer base of 28,000 in 100 countries.

They estimate the pair have powered more than two million events worldwide.

Brian Sheth, co-founder and President of Vista, says:

“There is an incredible opportunity to upgrade and expand the technology in the enormous and largely untapped meetings and events industry.

“With the leadership of Cvent’s highly-successful management team, working with our experienced Lanyon team, we are bullish on our ability to seize the green field opportunity ahead and remain the market leader in this segment.”

This year’s sale to Vista was a substantial turnaround from 17-year-old Cvent’s situation during the 2001 tech crash, when it grew too fast for its own good.

A transformation under CEO Reggie Aggarwal led to the company going public in 2013, raising $135 million along the way.

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