Cvent Inc. (NYSE: CVT), which makes cloud-based event management software for businesses, said it has agreed to be acquired by affiliates of Vista Equity Partners LLC for $1.65 billion as the private equity firm expands its technology portfolio.

According to terms announced Monday, Cvent stockholders will receive $36 in cash per share, a premium of about 69 percent over Cvent’s closing price on April 15. Cvent will become a private company after the transaction is completed.

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