Everbridge, a crucial occasion administration (CEM) software program firm, goes personal in a $1.8 billion all-cash deal that can see it taken over by personal fairness large Thoma Bravo — 20% greater than what was initially introduced final month.*
Based in 2002 initially as 3N World, Everbridge helps governments and enterprises from throughout the commercial spectrum reply to emergency conditions — this contains threat intelligence to assist asses the menace panorama round the place staff stay or journey, in addition to mass-notification instruments to successfully talk crucial messaging throughout extreme climate or terrorist assaults.
Everbridge went public on the Nasdaq in 2016, with its shares hitting an all-time excessive in September 2021 — the corporate reached a market cap of $6.4 billion, however this dropped by greater than two-thirds inside 4 months. Issues by no means recovered, with its valuation hovering at beneath the $1 billion mark for the previous six months.
Picture Credit: Eventbridge
Premium plan
Thoma Bravo, a non-public fairness agency famend for snapping up underperforming enterprise software program corporations, is successfully paying a premium in extra of 83%* on Everbridge’s market cap on February 2, the final day of buying and selling earlier than Thoma Bravo tabled a bid. Trying on the volume-weighted common share value (VWAP) over the earlier three months, the deal represents a 62% premium, with shareholders netting $35.00 per share — $6.40 greater than what was initially introduced.*
At a time when geopolitical instability is predicted to extend as a result of variety of elections going down, alongside current threats associated to local weather change and financial headwinds, Thoma Bravo clearly sees Everbridge’s suite of SaaS instruments as being integral to corporations trying to handle these dangers.
“We sit up for working with Everbridge to develop their means to capitalize on alternatives in an increasing market for threat, compliance, and security options,” Thoma Bravo associate Hudson Smith mentioned in a press launch. “The Everbridge product portfolio is already utilized by a few of the world’s most-respected companies and organizations to comprehensively monitor threat and handle crucial occasions, and we see an intensive runway forward for product innovation and worthwhile development.”
The transaction continues to be topic to sure regulatory and shareholder approvals, however the firm mentioned it expects to shut the deal in Q2 2024.
*This text was up to date on March 1, 2024, with amended acquisition value and premiums after Everbridge’s “go store” course of yielded higher curiosity.
