ON24 to Be Acquired by Cvent

ON24, providers of an intelligent engagement platform for B2B sales and marketing, will be acquired by Cvent, a meetings, events, and hospitality technology provider, for approximately $400 million.

The proposed transaction brings together two complementary platforms serving marketers and event professionals. ON24's webinar and digital engagement capabilities, first-party engagement data, and workflows complement Cvent's event technology offerings, positioning it to support marketing, sales, customer success and event teams as buying journeys become more digital and complex.

"We are pleased to announce this transformative transaction, which marks an important new chapter for ON24," said Sharat Sharan, co-founder, chairman, and CEO of ON24, in a statement. "We're proud of our global, AI-powered, intelligent engagement platform, which enables enterprises to effectively interact with their customers. I would like to thank our talented team around the globe for what they have helped build at ON24, and I look forward to the next phase of ON24's journey."

"ON24 has earned the trust of enterprise organizations and marketers by delivering reliable, outcome-driven digital engagement," said Reggie Aggarwal, founder and CEO of Cvent, in a statement. "We look forward to supporting ON24 as they continue to deliver value and working together to expand how brands engage audiences across digital and in-person experiences."