SAN FRANCISCO: Cvent, a major provider of meetings and events technology, said on Monday it has agreed to acquire intelligent engagement platform ON24 (ONTF.N) in an all-cash deal valued at about $400 million.
The transaction brings together Cvent’s event management software with ON24’s webinar and digital experience platform, aiming to create a broader suite of tools for enterprise marketing and sales teams as customer interactions grow more digital.
Under the terms of the definitive agreement, ON24 shareholders will receive $8.10 per share in cash. The offer price represents a 62% premium over ON24’s closing share price on Nov. 10, the last trading day before the company disclosed it had received several indications of interest for a potential deal.
“We are pleased to announce this transformative transaction which marks an important new chapter for ON24,” said Sharat Sharan, ON24’s co-founder, chairman and CEO.
Reggie Aggarwal, founder and CEO of Cvent, said ON24 had “earned the trust of enterprise organizations” and that the combined company would work to “expand how brands engage audiences.”
The deal, unanimously approved by ON24’s board, is expected to close in the first half of 2026, subject to shareholder and regulatory approvals. Upon completion, ON24 will become a privately held company and its stock will be delisted.
Goldman Sachs (GS.N) acted as exclusive financial advisor to ON24, with DLA Piper as legal advisor. William Blair & Company was financial advisor to Cvent, with Simpson Thacher & Bartlett acting as legal advisor.