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Cvent-Lanyon merger to create 'biggest event tech company'

Merger announcement comes after Cvent's acquisition from Lanyon's parent company, Vista
30/11/2016

Pictured: David Chalmers, Cvent senior marketing director for Europe, reveals the news at this year's ibtm world

Cvent and Lanyon Solutions are set to merge, creating what it claims is the largest event technology company in the world.

The two companies will come under the Cvent brand, with Cvent founder Reggie Aggarwal named as CEO of the new combined company.


It comes after Cvent was acquired by Vista Equity Partners, owner of Lanyon, in a transaction valued at US$1.65 billion.


David Chalmers, Cvent senior marketing director for Europe, told M&IT at ibtm world this week that it would be business as usual as the details of the merger are worked out.


"As of today we are now the biggest event technology company in the meetings and events and travel industry. We're now working towards operational integration as soon as possible and looking at strategy in the longer term. For us it's business as usual for Cvent and Lanyon customers," he said.


The merger announcement ends speculation over how the two former rival companies would align with one another, after Cvent was purchased by Lanyon's parent company Vista.


Chalmers said the merger would create more opportunities for product development, with a focus on the attendee journey and delegate data, including using it for return on investment and post-event communications.


He said: "The excitement for us is the investment we get from Vista means production and innovation is going to go through the roof. We now have a whole new bunch of additional products and all these things are going to be integrated."


Cvent's Aggarwal said: "We celebrate two new milestones today as we formally join the Vista family and merge with our highly-regarded peer, Lanyon. Combined under the Cvent umbrella, and with Vista’s powerful backing, we will draw on our decades of experience to push the boundaries of event technology innovation and remain focused on delivering outstanding technology, capabilities and service to the events industry."


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