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February 5, 2024
The private-equity firm says the acquisition will help to accelerate Everbridge’s continued growth. It should close in the second calendar quarter, subject to customary closing conditions, including approval by Everbridge shareholders and required regulatory approvals.
Under the terms of the agreement, Everbridge shareholders will receive $28.60 per share in cash. The per share purchase price represents a 32% premium to the Everbridge volume-weighted average share price over the last 90 days.
Everbridge's David Wagner
"Joining Thoma Bravo will mark a pivotal moment for Everbridge and our mission to empower organizations worldwide with the tools to successfully navigate critical events,” said David Wagner, Everbridge’s president and CEO. “Over the last several years, we have expanded and evolved our business to support customers in an increasingly complex threat landscape. Thoma Bravo’s comprehensive experience in the risk, compliance and safety sectors, and commitment to fostering innovation will enable us to better help our customers keep people safe and their organizations running. This agreement is a testament to all we’ve achieved together as one Everbridge and represents the beginning of an exciting new chapter for our team, our partners and our customers.”
Everbridge's suite of SaaS products encompassing mass notification, IT incident management, travel risk management, physical security information management, population alerting and risk intelligence have positioned the company to meet the evolving needs of a diverse base of over 6,500 customers. Everbridge customers include multinational enterprises across industries such as financial services, manufacturing, retail, transportation, energy and gas, and education, as well as national, state and local government bodies and U.S. federal agencies.
The acquisition agreement includes a 25-day “go-shop” period expiring on Feb. 29. It allows Everbridge’s board and its advisors to actively initiate and solicit alternative acquisition proposals from certain third parties. The board has the right to terminate the merger agreement to accept a superior proposal subject to the terms and conditions of the merger agreement.
Once the acquisition closes, he company will continue to operate under the Everbridge name and brand.
“We look forward to working with Everbridge to expand their ability to capitalize on opportunities in an expanding marketplace for risk, compliance and safety solutions,” said Hudson Smith, a partner at Thoma Bravo. “The Everbridge product portfolio is already used by some of the world’s most respected corporations and organizations to comprehensively monitor risk and manage critical events, and we see an extensive runway ahead for product innovation and profitable growth.”
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