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UPDATE 1-Event software firm Cvent Holding explores sale - source

Reuters
·1 min read

(Changes sourcing, updates shares)

Jan 31 (Reuters) - Cvent Holding Corp is exploring a sale that could value the cloud-based event-software provider at about $4 billion, a person familiar with the matter told Reuters on Tuesday.

The firm has attracted interest from private equity firms including Blackstone Inc, the source added.

Shares in the company closed nearly 23% higher on Tuesday after the potential sale was reported in the media. Stock was up roughly 1% in after market trading.

Cvent did not immediately respond to a Reuters request for comment on the report, while Blackstone declined to comment.

The potential sale was first reported by the Wall Street Journal. (Reporting by Chibuike Oguh in New York and Manya Saini in Bengaluru; Editing by Shailesh Kuber)