Event management platform Naboo has acquired UK venue sourcing and accommodation specialist Pro-ven for an undisclosed sum, allowing it to add enterprise clients as part of its UK expansion.
The deal is Paris-based Naboo’s first acquisition, following its recent expansion into the US and APAC and a $70 million Series B funding round in February to support its growth. According to Naboo, the acquisition is financed equally through equity and borrowing.
All 20 Pro-ven employees will be retained, and its Hertfordshire office will become Naboo’s UK headquarters. Pro-ven founder and managing director Julian Laxon will also remain in his role to help expand the company’s UK presence.
The team is now using Naboo's AI operating system, which the companies said will “dramatically boost” productivity and allow staff to “focus even more on client relationships and service.”
"I am incredibly excited for our clients and our team to make such a step into the AI-native world,” Laxon said in a statement.
"With Naboo, we are now able to address our clients’ needs for global coverage with equal quality, anywhere in the world. This is the direction our clients’ booking communities and procurement leads are clearly taking: one single vendor of record, anywhere in the world, to cover all the complex elements of venue find, event management and payment."
Naboo CEO and co-founder Maxime Eduardo told BTN Europe via email that Pro-ven generates €30 million in annual total transaction value. Following the acquisition, the combined company will manage $300 million (€268 million) worth of meetings and events worldwide.
Eduardo said the acquisition was primarily aimed at accelerating growth in the UK, “which is a huge market for us,” and expanding Naboo’s customer base. Pro-ven brings enterprise clients including Unilever, Virgin Media, Sony, Pladis Foods Limited and software company Celonis.