Cvent Acquires Goldcast and ON24 for $700 Million to Enhance Virtual Event Capabilities
Cvent has acquired virtual conferencing platforms Goldcast and ON24 for approximately $700 million to bolster its virtual event capabilities amidst a resurgence in in-person gatherings. The acquisition of Goldcast, valued at $300 million, brings AI-based video management, while the $400 million deal for ON24 is pending regulatory approval. These strategic moves reflect Cvent's commitment to integrating advanced marketing automation and lead generation within its event management offerings.
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Cvent has acquired virtual conferencing platforms Goldcast and ON24 for approximately $700 million. The acquisitions are part of Cvent's ongoing strategy to enhance its virtual event offerings amid a resurgence in in-person events.
Cvent's VP, McNeel Keenan, noted that 25% of their event registration tools remain focused on virtual events, indicating sustained demand for online engagement. The Goldcast acquisition, valued at $300 million, introduces AI-based video management, while the $400 million deal for ON24 is pending regulatory approval and expected to close in the first half of 2026.
These moves are seen as a shift towards integrating advanced marketing automation and lead generation capabilities. Cvent's recent strategy includes seven acquisitions since January 2024, positioning it at the intersection of event management and marketing, while also investing in AI to enhance its platform functionality.
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