This week's announcements of two major acquisitions within the meetings-technology space signals the continuation of a wave of consolidation of providers. Yesterday, meetings-tech behemoth Cvent announced it had acquired Social Tables, the collaborative diagramming and seating-technology platform for event venues. This innovative tech is the latest acquisition in Cvent's buying spree, which has included both QuickMobile and instant-venue-booking platform Kapow since just this spring.
Since its inception in 2011, Social Tables has grown quickly, powering nearly 4.5 million events in that time. The platform offers direct access to a database of 4 billion square feet of to-scale function space; according to Cvent, one in three full-service hotels in North America uses Social Tables to work with planners, helping to arrange 100,000 gatherings each month. Among the more than 5,000 organizations that have used Social Tables are Forbes, Hyatt, Live Nation, Under Armour and the Venetian resort in Las Vegas.
Cvent serves both the planning and hospitality communities with its platform, and the acquisition of Social Tables speaks to the collaboration between them. Rather than use disparate tools to manage floor-plan design, Cvent customers on both sides can use the Social Tables Event Services Solution to create diagrams and renderings quickly, with the capability of real-time edits that can be made by each. The acquisition should also add a wealth of richer content to the Cvent Supplier Network. The venue-sourcing facet of Cvent's platform will now include a more visual, interactive plan of properties' event spaces.
Also this week, Aventri, the event-management software company formerly known as Etouches, gobbled up another technology supplier, ITN International. This is the fourth acquisition the company has made in the past three years.
ITN is known for its mobile and cloud-based technology, as well as its near-field-communications solutions that have been deployed at conferences and trade shows globally. The company was a pioneer in introducing NFC solutions to the U.S. events market more than a decade ago. The acquisition broadens Aventri's global reach as well as the range of services that can be offered on-site at events.
ITN's on-site services include NFC badges, badge-printing stations, lead retrieval, apps and RFID scanning, combined with data-visualization tools that provide advanced reporting and analytics related to registration, badge activity and on-site scans. The company also has an online registration system that includes speaker management, an agenda builder and seating allocation, among other features.
In May, Cvent bought QuickMobile, the mobile-event app provider. The acquisition, along with QuickMobile's 100 employees, enabled Cvent to offer clients a broader range of mobile-event app and on-site solutions.
"We are extremely excited to add QuickMobile to the Cvent family," said Reggie Aggarwal, founder and CEO of Cvent, at the time of the announcement. "QuickMobile's track record of innovation, strong customer relationships and winning culture fit perfectly with Cvent. We will be laser-focused on continuing to deliver value for QuickMobile customers, and look forward to adding the best of QuickMobile's capabilities and expertise to the Cvent Event Cloud platform. We are also thrilled to welcome the talented QuickMobile team to our 3,000-plus Cventers worldwide. Together, we will execute on the mission of delivering cutting-edge mobile-event applications that transform live events."
The company continued its buying spree in June, purchasing Chicago-based Kapow, an online platform through which planners can book unique venues and packaged event experiences. Kapow offers more than 10,000 such experiences, including private-room dining in restaurants such as Fogo de Chao, personalized group fittings at Nike stores and private screenings of popular new movies at Regal Entertainment Group theaters. Events can be purchased via Kapow online with a credit card, with all logistics organized in advance.
Adding Kapow to its arsenal of meeting-management tools allowed Cvent to offer turnkey experiences that can be added on to larger events and booked quickly when needed. The platform also adds more unique venues to the thousands already available in the Cvent Supplier Network.
