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. Cvent did not immediately respond to a Reuters request for comment on the report, while Blackstone declined to comment.
IX vs. BX: Which Stock Is the Better Value Option?
Shares of Blackstone (NYSE: BX) have taken a beating during the current bear market. A big weight has been concerns about its growth prospects because of mark volatility and an uncertain macroeconomic picture. The company has already experienced growth headwinds for its core retail product, non-traded REIT BREIT, which saw a surge in redemption requests.