Cvent Holding is exploring a sale that could value the cloud-based event-software provider at about $4bn, a person familiar with the matter told Reuters on Tuesday.

The firm has attracted interest from private equity firms including Blackstone, the source added.

Shares in the company closed nearly 23% higher on Tuesday after the potential sale was reported in the media. Stock was up roughly 1% in after market trading.

Cvent did not immediately respond to a Reuters request for comment on the report, while Blackstone declined to comment.

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The potential sale was first reported by the Wall Street Journal.

Cvent is a leading meetings, events, and hospitality technology provider with more than 4,000 employees and nearly 21,000 customers worldwide. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences.

Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement.

Cvent’s suite of products automate and simplify the entire event management process and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms.

Source: Reuters

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