Cvent Buys ON24 for $400M to Own Hybrid Events

Cvent, a provider of event management and hospitality software, has agreed to acquire virtual events and webinar platform ON24 in an all-cash transaction valued at about $400 million.

Under the terms of the deal, ON24 shareholders will receive $8.10 per share, representing a 62 percent premium to the company’s November 10, 2025, closing price before takeover interest became public.

The acquisition brings together two established players in the meetings and events technology space.

Transaction structure and valuation

The $400 million purchase will be funded through a combination of Cvent’s roughly $1 billion in cash reserves and available debt facilities.

ON24 experienced strong growth during the pandemic-driven webinar boom and has since been working through a profitability turnaround as demand normalized. Cvent expects to generate about $50 million in a year by reducing overlapping technology, streamlining sales operations, and combining data and analytics infrastructure.

Planned changes

By acquiring ON24, Cvent significantly expands its capabilities in virtual and hybrid events. ON24’s AI-driven engagement, audience analytics, and lead generation tools will be integrated into Cvent’s broader event management suite, which already serves corporate planners, venues, and hospitality partners.

This combination strengthens Cvent’s ability to support hybrid event models that blend in-person meetings with digital participation.

To learn more, read our in-depth article on how event management software works and explore our overview of the MICE tourism market, which outlines its growth drivers and importance to the global travel economy.

Photo by Claudio Schwarz on Unsplash