Everbridge (a global leader in critical event management) and national public warning solutions announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, in an all-cash deal valuing Everbridge at approximately $1.5 billion.
The deal is expected to help accelerate the Company’s continued growth at a time of rising global uncertainty and increased prioritization of public safety and operational continuity. Upon completion of the deal, Everbridge will become a privately held company.
Under the terms of the agreement, Everbridge shareholders will receive $28.60 per share in cash. And the per share purchase price represents a 32% premium to the Everbridge volume-weighted average share price over the last 90 days.
Everbridge was founded in the aftermath of 9/11 with the mission of helping to keep people safe and organizations running amid critical situations. And its suite of Software-as-a-Service products encompassing mass notification, IT incident management, travel risk management, physical security information management, population alerting, and risk intelligence, has positioned Everbridge as a trusted partner to meet the evolving needs of a diverse base of 6,500+ customers through a comprehensive and unified interface. Plus, Everbridge customers include multi-national enterprises across industries like financial services, manufacturing, retail, transportation, energy & gas, and education, as well as national, state, and local government bodies and U.S. Federal agencies.
The deal, which was approved by the Everbridge Board of Directors, is expected to close in the second calendar quarter of 2024, subject to customary closing conditions, including approval by Everbridge shareholders and the receipt of required regulatory approvals. The deal is not subject to a financing condition.
Upon completion of the deal, Everbridge common stock will no longer be listed on any public stock exchange. And the Company will continue to operate under the Everbridge name and brand.
Qatalyst Partners is serving as financial advisor and Cooley LLP is serving as legal counsel to Everbridge. And Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo.
KEY QUOTES:
“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. 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.”
– David Wagner, President and CEO of Everbridge
“We are pleased to deliver immediate, compelling, and certain value to our shareholders through this transaction. Over the past several years, the Everbridge Board has consistently reviewed the Company’s stand-alone opportunity against other strategic opportunities, including dialogue with a range of potential partners. This agreement is the result of those efforts and reflects our commitment to maximizing value and certainty on behalf of our shareholders.”
– David Henshall, Chairman and Lead Independent Director of the Everbridge Board of Directors
“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. 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.”
– Hudson Smith, Partner at Thoma Bravo
“We’re thrilled to partner with the Everbridge team to keep building on the strong business they’ve created in critical event management. Our shared vision, coupled with Thoma Bravo’s software and operational competencies, will support Everbridge to accelerate its growth initiatives and better serve its customers during this exciting next chapter for the company.”
– Matt LoSardo, Principal at Thoma Bravo
