Active Network has acquired fellow online event management technology company StarCite for around US$51m (£33m) in stock and cash.

Philadelphia-based StarCite, which has about 300 employees, will become part of Active Network’s new Business Solutions division, creating an ‘end-to-end global ecosystem for the events industry’.

JR Sherman, SVP and senior general manager of Active Network Business Solutions, said: "StarCite has built a solid reputation in the strategic meetings management market which is an excellent complement to the enterprise corporations and small and medium-sized businesses we already serve.

"Through this strategic acquisition, we'll be in a position to offer our customers the industry's most robust, fully-scalable technology platform and a broad range of solutions to successfully run events and meetings of all sizes, any level of complexity, and across all segments."

In addition to its global customer base and leading strategic meetings management SaaS technology, the acquisition of StarCite provides Active Network with access to a vast online marketplace of the top hotels, destinations and venue suppliers worldwide.

The partnership, and subsequent launch of the Business Solutions division, is expected to drive greater cost savings, efficiencies and deeper audience engagement.

The new Business Solutions initiative was officially unveiled at the PCMA Convening Leaders show, taking place in San Diego this week.

Pictured: JR Sherman