Cvent has agreed to acquire ON24, an AI-powered engagement
platform for B2B enterprise sales and marketing, in an all-cash deal valued at
approximately $400 million, Cvent announced Tuesday.
The transaction "brings together two complementary
platforms serving enterprise marketers and event professionals," according
to Cvent, which added that the combined companies are "well positioned to
support marketing, sales, customer success and event teams as buying journeys
become more digital and complex."
Under the terms of the agreement, ON24 shareholders will
receive $8.10 per share in cash, representing a premium of approximately 62
percent over ON24's closing share price on Nov. 10, the last trading day prior
to ON24's disclosure of a potential transaction, according to Cvent.
The deal is expected to close in the first half of 2026,
subject to approval by ON24 shareholders, regulatory approvals and customer
closing conditions. Upon completion of the transaction, ON24's common stock
will no longer be publicly listed, and ON24 will become a privately held
company, according to Cvent.
Earlier in December, Cvent also announced the acquisition of
Goldcast, an AI-powered video content platform built for B2B webinars and
events. Details of the transaction were not disclosed.
The acquisition "combines Cvent's scale with Goldcast's
AI-powered capabilities, allowing marketing teams to instantly turn live event
moments into on-brand video clips, summaries and recaps," then
"repurposing that footage for web, email, social and sales
activation," according to Cvent.