Simpson Thacher is representing Cvent in the announced definitive agreement to acquire ON24, Inc. in an all-cash transaction for a total consideration of approximately $400 million. Under the terms of the agreement, ON24 shareholders will receive $8.10 per share in cash. 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 customary closing conditions. Upon completion of the transaction, ON24’s common stock will no longer be publicly listed, and ON24 will become a privately held company.
ON24 is a leading intelligent engagement platform for B2B enterprise sales and marketing. Cvent is a leading meetings, events and hospitality technology provider that delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences.
The Simpson Thacher team includes William Allen, Elizabeth Cooper, Malik Ladhani, Michael Chen and Jaylen Amaker (M&A); Greg Grogan, Ashlie Lawton and Sara Mazurek (Executive Compensation and Employee Benefits); Jonathan Goldstein, Edward Grais and George Rhein (Tax); Caroline Geiger and Dewey Kang (Intellectual Property); and Krista McManus (Real Estate).