Cvent Reinforces Leadership in Event Tech with Prismm Acquisition
Deal News | Apr 24, 2025 | Vista Equity Partners
Cvent, a leading provider in meetings, events, and hospitality technology, has acquired Prismm, which specializes in spatial event design technology. This acquisition solidifies Cvent's initiative to lead in immersive 3D event diagramming technologies, benefiting diverse stakeholders in the event and hospitality sectors. The deal is set to enhance event planning experiences and streamline hospitality operations by offering advanced virtual design tools for efficient, collaborative, and revenue-maximizing events. Prismm's integration with Cvent aligns with the growing need for cloud-based planning and interactive event solutions that enable organizers and venues to expedite processes, improve customization, and offer dynamic virtual tours. Cvent emphasizes the necessity of online collaboration tools in the evolving event landscape, and Prismm's 3D capabilities promise to elevate event and venue visualization experiences. Nfluence Partners served as the exclusive financial advisor to Prismm in this transaction.
Sectors
- Event Management Technology
- Hospitality
Geography
- United States – Cvent is headquartered in Tysons, Virginia, USA, and is a major player in the event technology industry, impacting both domestic and international markets.
Industry
- Event Management Technology – The acquisition involves Cvent acquiring Prismm, both of which operate in the event management technology industry, focused on providing solutions for event planning and execution.
- Hospitality – Cvent's services and the acquisition of Prismm impact the hospitality industry by offering solutions that help venues and hoteliers enhance their sales, marketing, and operational efficiency.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cvent | Acquirer | Company | Cvent is a leading technology provider in meetings, events, and hospitality, offering a comprehensive platform for event marketing and management. |
| Prismm | Target Company | Company | Prismm specializes in spatial event design technology, providing virtual design tools to venues and planning experts. |
| Vista Equity Partners | Private Equity Firm | Company | Vista Equity Partners is a private equity firm involved in the financial backing of Cvent. |
| Nfluence Partners | Financial Advisor | Company | Acted as the exclusive financial advisor to Prismm during the acquisition process. |