Cvent to acquire ON24 for $400M, aiming to dominate "total event" market

Cvent, a global leader in meetings and hospitality technology, has entered into a definitive agreement to acquire ON24 (NYSE:ONTF) for approximately $400 million in an all-cash transaction.

The deal, announced Tuesday, marks a significant consolidation in the B2B marketing space, uniting Cvent’s strength in in-person events with ON24’s "intelligent engagement" webinar and digital platform.

Under the terms of the agreement, ON24 shareholders will receive $8.10 per share in cash.

This price represents a substantial 62% premium over ON24’s closing price on November 10, 2025—the date prior to the company revealing it had received initial interest from buyers.

The acquisition is a strategic move to address the increasing complexity of the B2B buyer journey.

By integrating ON24’s AI-powered workflows and first-party engagement data into Cvent’s ecosystem, the combined entity will offer a "single source of truth" for marketers tracking attendee behavior across virtual webinars, hybrid summits, and large-scale in-person conferences.

The proposed transaction, which has been unanimously approved by the ON24 Board of Directors, is expected to close in the first half of 2026, subject to approval by ON24 shareholders, the satisfaction of regulatory approvals, and other customary closing conditions.