Events.com Acquires Key Assets of Remo, Expanding into $98 Billion Virtual Events and Meetings Market

Core Insights - Events.com has acquired key assets from Remo, enhancing its event technology platform with virtual and hybrid capabilities, thereby broadening its geographic reach and target market [1][4][6] - The acquisition allows Events.com to offer an all-in-one platform for live, virtual, and hybrid experiences, leveraging Remo's technology to create customizable virtual spaces that foster engagement [2][3] - Events.com aims to capitalize on the rapidly growing virtual events market, projected to reach $98 billion, and the global virtual meeting software market, expected to grow from $19.04 billion in 2023 to $157.96 billion by 2032 [4][7][8] Company Strategy - The acquisition of Remo is part of Events.com's growth strategy, which focuses on enhancing product offerings and expanding market reach through strategic acquisitions [6][10] - Events.com has a history of acquiring complementary technologies since 2022, which has allowed it to create a unified platform addressing multiple stages of the event lifecycle [6][7] - The company plans to continue exploring acquisition opportunities that align with its vision of becoming the go-to platform for all event needs [10] Market Context - The global experience economy is projected to grow from $936 billion in 2024 to $1.8 trillion by 2029, with the virtual events market expected to grow at a CAGR of 20.0% from 2025 to 2030 [7] - Events.com positions itself as a key player in both live and digital events, offering an integrated platform that combines various event capabilities [8] Future Outlook - Events.com is preparing for a public listing through a business combination with Concord Acquisition Corp. II, expected to close in Q1 2025, which will provide significant capital for growth initiatives [9][10] - The company sees tremendous opportunities ahead as it expands into new markets and continues to invest in innovation [10]