Meetings
Cvent on Wednesday announced the acquisition of Santa Barbara, Calif.-based hospitality marketing company Elite Meetings International.
Cvent plans to integrate EMI's venue-sourcing tools into its "growing hospitality cloud offering." A spokesperson noted the deal gives meeting planners access to "more hotels, resorts and venues." EMI also offers a white label requests-for-proposals engine for hotel websites. Terms of the deal were not announced, but publicly traded Cvent expected the "financial impact of the transaction to be immaterial to revenue in 2015 and to be dilutive to 2015 adjusted EBITDA by approximately $3.5 million."