CrowdCompass sells for $10 million

CrowdCompass sells for $10 million

Portland startup CrowdCompass, which makes smartphone apps for conferences, plans to announce this morning that it has sold its business to a Virginia software company called Cvent for $10 million.

Cvent says it plans to retain CrowdCompass' Southeast Portland office and add to its work force. The buyer said it could double CrowdCompass' headcount-- which currently numbers 25 -- within the next year.

"Let's be clear: We bought this for their people," said Cvent chief executive Reggie Aggarwal. "We're going to let the management team run the place they way they've been doing it."

Read more in today's Oregonian.