In a whirlwind 60-day run for major event industry players including Cvent, PMY, Quest Events, Emerald and Freeman have all executed major acquisitions—and all between March and April, signaling a strategic push for growth and market dominance.
Is the surge in deal activity a sign of an appetite for consolidation as companies position themselves in an increasingly competitive landscape?
Or does springtime just signal the end of the first quarter, when most companies finalize annual strategic plans and budgets? Perhaps, these firms are looking for a strategic lever as part of a larger initiative to expand into new customer segments, industries or locations. Whatever the reason, here’s what’s going down with five major industry acquisitions:
Cvent Acquired Prism
Most recently, leading event technology provider Cvent scooped up spatial event design tech firm Prismm for an undisclosed sum. The deal is set to give Prismm access to Cvent’s customer base of more than 24,000, while Cvent will benefit from Prismm’s 5,500-plus event venues, hotels, planners and vendors that currently rely on its platform, where they collaborate via virtual environments ahead of pulling off the production IRL.
The acquisition reinforces Cvent’s commitment to setting an industry standard for offering immersive, 3D event diagramming technology that’s invaluable to event and hospitality professionals and their vendors, per a press release on the move.
On Prismm, hotelier and venue-operator users can expect streamlined event creation thanks to online diagramming tools, as well as elevated sales and marketing capabilities with the help of 3D virtual tours. Event professionals, on the other hand, will find simplified sourcing tools that take layout, capacities and budgets into account, plus floor plan templates to assist in visualize layouts, seating arrangements and decor. Prism and Cvent touted that all users will find benefit in a cloud-based model, which enables real-time collaboration.
Jim Abramson, Cvent’s vice president of product management, touted that “online collaboration is mission critical to get business done,” noting that Prismm’s features are vital in ensuring all customers, prospects and event teams are “on the same page.”
PMY Group Acquires Event360
Also this week, live sport, entertainment and leisure technology partner PMY Group (PMY) formally announced its acquisition of UK-based Event360, which specializes in sports productions and stadium entertainment. With headquarters in Sydney, Australia, and hubs across Australia, the US, Europe and Asia, the move reaffirms PMY’s commitment to the UK market. (PMY has five locations across the UK, including in London, Birmingham and Cardiff.)
Under the acquisition, Event360—which boasts a roster including UEFA, NFL International and the Rugby Football Union, among other major sporting organizations—will be rebranded and integrated into PMY’s global experience division that launched in September 2024, KOJO, the company said. As a result, KOJO will offer an enhanced, technology-driven production and thus fan experience, positioning PMY to take its services to major events, tournaments and stadiums worldwide.
The price PMY paid for Even360 is not publicly available.
Quest Events Acquiries Drape Kings
In another private acquisition, Las Vegas-based Quest Events acquired drapery firm Drape Kings in late March. Drape Kings won’t drop its name in the deal—but will now be “proudly identified as ‘A Quest Events Company,’” per a press release.
The acquisition is a strategic step forward for Quest Events, which began in 1998 as a pipe and drape rental company but has since grown significantly to offer a range of furniture rentals, including scenic panels, lecterns and other event decor. Both Quest Events and Drape Kings also have multiple locations across key US markets, including Chicago, New York and Washington, DC, which will translate into enhanced service capabilities, expanded resources and a broader inventory for clients.
Emerald Acquires This is Beyond
B2B event operator Emerald, formally known as Emerald Holdings Inc., announced its acquisition of This is Beyond on March 17, an event production company out of London that specializes in the luxury travel market. The price of the deal—which is expected to close in the second quarter—was not disclosed, though it reportedly supports Emerald’s plan to diversify its portfolio.
The deal will do just that, as Emerald takes ownership of This is Beyond events such as LE Miami and We are Africa taking place in May, as well as PURE Life Experiences, Further East, Do Not Disturb and Specialists in Entertainment Travel, which are slated for venues in South Africa, Indonesia, Italy and beyond later this year. Before the acquisition, Emerald already operated major B2B events of its own, including AtlantaCityScene, RFID Journal Live!, DealerPoint and Advertising Week LATAM.
“Entering this sector is an exciting opportunity for Emerald […]. By combining This is Beyond’s expertise with Emerald’s strengths in innovation, market leadership and in-person experiences, we will elevate our offerings, reinforce our presence in high-value markets and deliver exceptional ROI to our customers,” Emerald’s president and CEO, Hervé Sedky, said of the acquisition.
Freeman Acquires Tag Digital
On March 11, Dallas, Texas-based event industry giant Freeman acquired London’s Tag Digital, a full-service digital marketing agency specializing in innovative solutions for event organizers and the broader industry.
Terms of the transaction were not disclosed, though a press release on the deal said that Tag is set to combine its services with Freeman’s marketing-driven agency, mdg. The move is driven by the millennials and Gen Z-ers in the industry, who are digital natives—”both in their personal and professional lives,” said Janet Dell, Freeman CEO. “By combining best-in-class digital marketing capabilities and leveraging AI-driven tools, mdg is positioned as the go-to agency for strategies that engage today’s attendees while setting events up for sustained growth.”
