Private equity company Vista Equity Partners (‘Vista’) which took control of Texas-based hospitality solutions provider Lanyon last year, has now merged that business with Active Network Business Solutions Group.
The new company will form a single suite of solutions for the global meetings, events and hospitality technology sector.
Active Network Business Solutions Group was separated from its parent company in completing the merger which was announced 20 February.
The combined company will operate under the name Lanyon.
“Active Network has recognised a significant market opportunity within the event technology space,” said Darko Dejanovic, Active Network CEO.
“We believe that as an independent entity focused singularly on the meetings and events space, the Active Network Business Solutions Group and SMART EVENTS? Cloud solution, in combination with Lanyon technology, will provide customers with an even broader and more powerful solution offering.”
“The merger of Active Network Business Solutions with Lanyon has the opportunity to propel the meetings, events and transient hotel spend industries several steps forward,” said Christopher J. Dwyer, Research Director at Ardent Partners, a leading supply management research and advisory firm.
“To capture, control, and manage meetings, events and transient hotel spend, the contemporary enterprise requires a series of end-to-end processes that address hotel and venue sourcing, analytics, reporting, spend management, and compliance. Once combined, the ‘new’ Lanyon offering can help procurement and sourcing teams gain a holistic, enterprise-level view of their events-management programmes,” he added.
“Leading companies are looking for a holistic view of the entire meetings and hotel programme spend, as well as marketing and engagement analytics to support sales and revenue growth,” said JR Sherman (pictured), President and Chief Revenue Officer at Lanyon. “By bringing together Active Network Business Solutions and Lanyon, we have created a comprehensive suite of solutions for the industry.”
Kenny Cobern, Chief Operating Officer at Lanyon, added: “The combined company is laser-focused on applying data and analytics to negotiated hotel programs, as well as global meetings and events programs. Corporate buyers can now truly implement Big Data strategies to build and execute more meaningful programs, while suppliers can better serve today’s savvy customers to win more business.”
The combined Lanyon serves 70 per cent of the Fortune 500.
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