Cvent and Lanyon Merge to Form Mega Company
November 30, 2016
Cvent and Lanyon Solutions, providers of cloud-based enterprise event management technology solutions, merged their two companies creating a global meeting, event and travel technology leader.
The merger is effective immediately, and the companies will combine business operations in the coming year.
Vista Equity Partners, owner of Lanyon, has completed its previously announced acquisition of all outstanding Cvent common stock for $36.00 per share in a transaction valued at approximately $1.65 billion.
The combined company will be privately held and operate under the Cvent brand. Reggie Aggarwal, Cvent’s founder and CEO, has been named the CEO of the new combined company.
David Bonnette, CEO of Lanyon, will work with the management team through the transition to a single company.
The headquarters for the combined company will be in Tysons Corner, Va., with a significant office presence in Lanyon’s former headquarters in Dallas.
“We celebrate two new milestones today as we formally join the Vista family and merge with our highly-regarded peer, Lanyon,” said Reggie Aggarwal, founder and CEO of Cvent.
He added, “Combined under the Cvent umbrella, and with Vista’s powerful backing, we will draw on our decades of experience to push the boundaries of event technology innovation and remain focused on delivering outstanding technology, capabilities and service to the events industry.”
"We are thrilled to welcome Cvent to our portfolio of high-performing software companies,” said Brian Sheth, co-founder and president of Vista.
He added, “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.”
During the past two decades, Lanyon and Cvent have delivered some of the most innovative and successful technology solutions addressing the needs of event planners, marketers, and hoteliers. These solutions cover the full spectrum of the event lifecycle including event management, strategic meetings management, sourcing solutions for both transient and group business, room block management, and mobile and onsite solutions.
Aggarwal added, “Cvent is a growth company chasing an enormous opportunity ahead of it. Our employees have been the DNA of our success and we’re excited to add the talent, experience, and the products of the Lanyon team.”
Combined, the companies have more than 800 technology professionals and more than 700 customer-facing support staff.
As the undisputed market leader with approximately 28,000 customers in 100 countries and having powered more than 2 million events and sourced over $50 billion total RFP value through their sourcing networks, the new Cvent will continue to drive technology innovation while providing customers with world-class levels of support for all Cvent and Lanyon solutions.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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