(Updates with recent stock price movement in the headline and first paragraph.)

ON24's (ONTF) shares were up more than 36% in recent early Tuesday trading after the company said it had agreed to be acquired by events and hospitality technology provider Cvent for about $400 million.

Under terms of the deal, ON24 shareholders will receive $8.10 per share in cash.

The deal has been approved by ON24's board and is slated to close in H1 2026, subject to regulatory and ON24 shareholder approvals.

Upon completion of the deal, ON24's common stock will no longer be publicly listed and ON24 will become a privately held company, the company said.

Price: 7.98, Change: +2.12, Percent Change: +36.06