Cvent Holding Corp. (Nasdaq: CVT), a meetings, events and hospitality technology provider, and Dragoneer Growth Opportunities Corp. II (formerly Nasdaq: DGNS) (“Dragoneer”), announced the completion of the business combination of Cvent and Dragoneer, a special purpose acquisition company formed by Dragoneer Investment Group (the “Business Combination”) on December 8. The Business Combination was approved by Dragoneer shareholders at a special meeting held on December 7. The common stock of Cvent will trade on The Nasdaq Global Market under the ticker symbol “CVT”.
Reggie Aggarwal, Cvent CEO & Founder, says, “This is an exciting day for Cvent and our more than 4,000 employees around the world. The closing of our Business Combination and our return to the public markets represents an important inflection point for our company and the industry. Organizations around the world want to get back to meeting – whether virtually, in-person, or both with hybrid – and are leveraging technology more than ever to connect with their attendees. We’ve invested heavily in our virtual and hybrid event solutions so that now, no matter how our nearly 21,000 customers want to bring people together, Cvent can help them deliver more engaging, impactful experiences. The proceeds from this transaction enable us to expand our global headcount, drive innovation, and help us deliver on our long-term growth objectives.”
“We’re thrilled to support Cvent and would like to congratulate Reggie and the entire team on reaching this incredible milestone,” said Christian Jensen, Partner at Dragoneer. “Cvent is an innovative and entrepreneurial pioneer in the enterprise event technology space offering trusted solutions and support to customers as they continue to need robust technology to manage and deliver their in-person, virtual and hybrid events. We look forward to witnessing Cvent’s next phase of growth as a publicly listed company.”
“Vista, Reggie and the Cvent team have partnered over the last five years to advance their bold vision to power the entire meetings and events ecosystem,” said Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “Through their deep commitment to product innovation, operational excellence, and sustainable growth, and their ability to expertly navigate the evolving hybrid world, Cvent has emerged as the preeminent meetings and events technology partner, no matter how organizations choose to gather, whether online or in-person. Vista is privileged to be part of Cvent’s journey, and we look forward to further advancing the organization’s mission to connect and engage people around the world.”
