Convene Buys UK Conference Provider Etc.venues for Reported $250 Million

U.S.-based meeting, event and office provider Convene has bought etc.venues, which now expands its footprint in the UK.

Convene said the deal, announced on Wednesday, makes it the “largest provider of premium meeting and event venues in the U.S. and UK.”

Terms of the deal were not disclosed, but according to reports is worth $246 million.

The combined entity will now offer 38 locations across the two countries.

"Over the next few months, we will begin taking steps to fully integrate our operations but, for now, things will continue 'business as usual' for our clients with no immediate changes to existing events, programming, packages, pricing, nor operations – besides, of course, the fact that we are delighted to have nearly 40 venues available for bookings across the U.S. and UK," the company said in the statement.

Meanwhile, events and hospitality technology provider Cvent is reportedly looking into selling, with the company valued at more than $4 billion according to reports.