Tech companies merge in bid to become ‘dominant’ provider
US-based meeting technology companies MeetingPlay and Aventri have merged.
The single entity, which will receive growth funding from Sunstone Partners and Camden Partners, aims to ‘forge a new path as the dominant, full-service event software provider’.
It will provide a full suite of products from registration to event apps, marketing to online and hybrid platforms, and comes as organisers grapple with a plethora of event software options.
MeetingPlay CEO Eric Lochner has been named CEO of the company, which, has yet to be named.
He said: “We are excited to bring these two inventive companies together to create a new cutting-edge experience for the meetings and events industry. We have a strong opportunity to deepen the process of hosting in-person, hybrid and virtual events and are excited to be able to better support meeting planners and event organizers while offering a wider range of products and experiences.”
Together the two companies have more than 10,000 clients and help power 50,000 events every year, with more than seven million attendees. The size of the meetings range from mega conventions of 200,000 delegates right down to small meetings of 100 people or fewer.
“Two great companies are coming together, leveraging secular tailwinds to increase market share and expand their innovative software capabilities to benefit top companies and brands,” said Sunstone Partners co-founder and managing director, Michael Biggee. “We’re delighted to continue partnering with them on their exciting future as one company.”
The merger news comes at a critical time in the meetings and events industry when planners and organizers are seeking to adopt the benefits of virtual gatherings while using fewer providers.
Co-founder and former MeetingPlay CEO Joe Schwinger, and co-founder and former MeetingPlay COO Lisa Vann will remain with the new company and undertake executive roles to continue enhancing the event technology industry and working with their valued customers. Former Aventri CEO Jim Sharpe will remain a shareholder and advisor to the new company.
Published Date: 06/01/2022