Cvent Inc. acquires SignUp4 for $22 million
Tysons Corner-based Cvent Inc. has acquired event management software firm SignUp4 for $22 million.
Cvent, a cloud-based enterprise event management platform, said the deal is expected to strengthen its customer base.
SignUp4 is based in Atlanta.
Cvent also said on Tuesday that CFO Pete Childs will be leaving the company at the end of August. Cvent has retained an executive search firm to help recruit a successor
Both announcements were included in Cvent’s earnings for the first quarter, which ended March 31.
Total first-quarter revenue was $41.1 million, an increase of 31 percent from the comparable period in 2014.
The first-quarter GAAP net loss was $2.4 million, compared to GAAP net income of $1.6 million for the comparable period in 2014. The net loss per diluted share was 6 cents, compared to net income per diluted share of 4 cents last year.