Everbridge, a vital occasion administration (CEM) software program firm, goes non-public in a $1.5 billion all-cash deal that may see it taken over by non-public fairness big Thoma Bravo.
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 dwell or journey, in addition to mass-notification instruments to successfully talk vital 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.
Eventbridge. Picture Credit: Eventbridge
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Thoma Bravo, a non-public fairness agency famend for snapping up underperforming enterprise software program companies, is successfully paying a premium in extra of fifty% on Everbridge’s market cap on Friday. Nevertheless, wanting on the volume-weighted common share value (VWAP) over the previous three months, the deal represents a 32% premium, with shareholders netting $28.60 per share.
At a time when geopolitical instability is anticipated to extend because of the variety of elections happening, 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 firms seeking to handle these dangers.
“We stay up for working with Everbridge to broaden their skill to capitalize on alternatives in an increasing market for threat, compliance, and security options,” Thoma Bravo companion Hudson Smith mentioned in a press launch. “The Everbridge product portfolio is already utilized by a few of the world’s most-respected firms and organizations to comprehensively monitor threat and handle vital occasions, and we see an intensive runway forward for product innovation and worthwhile development.”
The transaction remains to be topic to sure regulatory and shareholder approvals, however the firm mentioned it expects to shut the deal in Q2 2024.
