ON24, Inc. (NYSE:ONTF) stock surged Tuesday after the company announced it had entered into a definitive agreement to be acquired by Cvent in an all-cash transaction valued at approximately $400 million.
Details
Under the agreement, ON24 shareholders will receive $8.10 per share in cash.
The offer represents a premium of about 62% to ON24’s closing price on November 10, 2025, the last trading day before the company disclosed it had received multiple acquisition approaches. The price also reflects a 51% premium to ON24’s 90-day volume-weighted average price.
The transaction has been unanimously approved by ON24’s board of directors and is expected to close in the first half of 2026, subject to shareholder approval, regulatory clearances, and customary closing conditions.
Once completed, ON24 will no longer be publicly listed and will operate as a privately held company.
Strategic Rationale
The deal combines ON24’s enterprise-grade webinar and digital engagement platform with Cvent’s meetings, events, and hospitality technology.
The companies said the combination strengthens their ability to support increasingly digital and complex buyer journeys across marketing, sales, customer success, and events.
“We are pleased to announce this transformative transaction which marks an important new chapter for ON24,” said Sharat Sharan, co-founder, Chairman and CEO of ON24. “We’re proud of our global, AI-powered, intelligent engagement platform which enables enterprises to effectively interact with their customers.”
Reggie Aggarwal, Founder and CEO of Cvent, said, “ON24 has earned the trust of enterprise organizations and marketers by delivering reliable, outcome-driven digital engagement.”
ONTF Price Action: On24 shares were up 36.67% at $8.00 at the time of publication on Tuesday, according to Benzinga Pro data.
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