ON24 (ONTF), a provider of intelligent engagement solutions for B2B enterprise sales and marketing, on Tuesday announced that it has agreed to be acquired by Cvent Holding Corp. in an all-cash transaction at approximately $400 million.
The deal is expected to close in the first half of 2026.
Under the terms of the agreement, the company's shareholders will receive $8.10 per share in cash, representing a premium of about 62% to the closing share price on November 10, and a 51% premium to the 90-day volume-weighted average price.
Upon completion, the company will be delisted and will operate as a privately held company.
The transaction combines the company's webinar and digital engagement platform, data and AI tools with Cvent's meetings, events and hospitality technology to support enterprise marketing, sales, customer success and event teams.
In the pre-market trading, 35.89% higher at $7.97 on the New York Stock Exchange.
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