Meetings management firm Maritz Travel acquired Experient, one of the largest third-party meetings management companies.
Experient will operate as a wholly owned subsidiary of Maritz, and Experient CEO Jeff Price will step down, according to a Maritz statement.
Financial terms of the acquisition were not disclosed. The two firms in 2011 "represented more than $2 billion in industry volume spend and nearly 3 million travelers served," according to Maritz.
"The event industry has had to evolve as a result of a volatile business environment," said Maritz Travel President David Peckinpaugh in a statement. "Spend is returning to pre-recession levels, and together Maritz Travel and Experient are leading the market in delivering the flexibility and range of services organizations need to achieve growing and increasingly aggressive business results."
Source: Business Travel News