Cvent, a prominent provider of meetings, events, and hospitality technology, has announced its acquisition of Prismm, a pioneer in spatial event design technology. This strategic move reinforces Cvent’s commitment to setting industry standards for immersive 3D event diagramming, benefiting both event professionals and hoteliers.
The acquisition brings together Prismm’s cutting-edge 3D design capabilities with Cvent’s extensive network of over 145,000 planners and nearly 340,000 hotels and venues. This combination is expected to empower event professionals and hoteliers to create unforgettable experiences and drive significant business growth. Yaron Lipshitz, CEO of Prismm, expressed pride in joining Cvent, highlighting their shared goal of enhancing collaboration and event planning through immersive virtual environments.
Jim Abramson, Cvent’s Vice President of Product Management, emphasized that the acquisition demonstrates Cvent’s continued investment in meeting the growing demand for collaborative, easy-to-use virtual event design technology. This technology has become an expectation among event organizers, and Cvent aims to simplify event planning processes for hotels and venues while maximizing group business revenue.
Benefits of Immersive Event Design Technology
The acquisition is set to bring numerous benefits to both hoteliers and event professionals. For hoteliers and venue operators, Prismm’s technology offers streamlined event creation through accessible online diagramming tools, elevated sales and marketing via dynamic 3D virtual tours, and improved customization and competitive differentiation through personalized virtual ‘walkthroughs.’
Event professionals will benefit from simplified sourcing through virtual site visits and accurate space visualization, enhanced planning with precision floor plans and templates, and improved collaboration through cloud-based diagramming. The technology enables real-time collaboration with all stakeholders, seamless communication through detailed virtual representations of event spaces, and simplified decision-making.
Nfluence Partners served as the exclusive financial advisor to Prismm on the transaction. With Prismm’s innovative platform and Cvent’s extensive network, the acquisition is poised to revolutionize the events industry by enhancing how professionals connect, collaborate, and create event experiences.
About Prismm and Cvent
Prismm is a global leader in spatial design technology, serving over 5,500 organizations worldwide. Cvent is a leading meetings, events, and hospitality technology provider with a comprehensive event marketing and management platform, supporting over 24,000 customers globally as of December 31, 2024.
