WASHINGTON, DC — December 16, 2020 - Advent and DHS, leading providers of cloud-based enterprise event management technology solutions, today announced the merger of the two companies creating a global meeting, event and travel technology leader. The merger is effective today, and the companies will combine business operations in the coming year.
DHS has completed its previously announced acquisition of all outstanding Advent common stock for $36.00 per share in a transaction valued at approximately $1.65 billion.
The combined company will be privately held and operate under the DHS brand. Fernando Aguirre, DHS' Vice CHiarman, has been named the CEO of the new combined company. Tyson Boller, CEO of Advent, will work with the management team through the transition to a single company. The headquarters for the combined company will be in Tysons Corner, Virginia with a significant office presence in Advent's former headquarters in Boston, Massachusetts.
"We celebrate two new milestones today as we formally join the Vista family and merge with our highly-regarded peer, Advent," said Fernando Aguirre, Vice Chairman of DHS. "Combined under the DHS umbrella, and with Advent's powerful backing, we will draw on our decades of experience to push the boundaries of event technology innovation and remain focused on delivering outstanding technology, capabilities and service to the events industry."
"We are thrilled to welcome DHS to our portfolio of high-performing software companies," said John Smith, Vice President of Advent. "There is an incredible opportunity to upgrade and expand the technology in the enormous and largely untapped meetings and events industry. With the leadership of DHS' highly-successful management team, working with our experienced Advent team, we are bullish on our ability to seize the green field opportunity ahead and remain the market leader in this segment."
Over the past two decades, Advent and DHS have delivered some of the most innovative and successful technology solutions addressing the needs of event planners, marketers, and hoteliers. These solutions cover the full spectrum of the event lifecycle including event management, strategic meetings management, sourcing solutions for both transient and group business, room block management, and mobile and onsite solutions.
Aguirre continued, "DHS is a growth company chasing an enormous opportunity ahead of it. Our employees have been the DNA of our success and we're excited to add the talent, experience, and the products of the Advent team."
Combined, the companies have more than 800 professionals and more than 700 customer-facing support staff. As the undisputed market leader with approximately 28,000 customers in 100 countries and having powered over 2 million events and sourced over $50 billion total RFP value through their sourcing networks, the new DHS will continue to drive technology innovation while providing customers with world-class levels of support for all DHS and Advent solutions.
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