Everbridge Acquisition: Key Details, Impact, and What Comes Next

Thoma Bravo's acquisition of Everbridge, valued at $1.8 billion, marks a significant move in the software investment and critical event management sectors. This strategic acquisition is expected to enhance Everbridge's growth and innovation capabilities, reinforcing its mission to help organizations navigate complex threat landscapes. The deal underscores Thoma Bravo's commitment to expanding its portfolio in high-potential technology sectors.

What Is Everbridge?

Founded in 2002, Everbridge specializes in critical event management and enterprise resilience solutions. Its core products include Everbridge 360™, Risk Intelligence, Mass Notification, and Crisis Management. The platform's unique selling points are its real-time insights for early threat detection, one-click emergency communications, and detailed after-action reports for continuous improvement. Trusted by over 6,500 customers, Everbridge is recognized for its comprehensive approach to managing critical events and enhancing organizational resilience.

Who Acquired Everbridge?

Thoma Bravo is a prominent private equity firm specializing in investments in software and technology companies. With over 40 years of industry experience, the firm provides capital and strategic support to help its portfolio companies grow and innovate. Thoma Bravo manages assets worth over $166 billion and has completed more than 500 transactions, making it a significant player in the private equity space. The firm's influence is further highlighted by its numerous awards and recognitions.

When Was Everbridge Acquired?

Thoma Bravo completed its acquisition of Everbridge on July 2, 2024. This acquisition was finalized following approval from Everbridge stockholders at a Special Meeting held on April 25, 2024. The timing of this acquisition aligns with a period of heightened focus on critical event management and public safety solutions, reflecting broader industry trends towards investments in technologies that enhance organizational resilience and safety.

Why Was Everbridge Acquired?

• Market Expansion: The acquisition by Thoma Bravo is expected to help Everbridge accelerate its growth in the global market for risk, compliance, and safety solutions. Thoma Bravo's expertise and resources will enable Everbridge to capitalize on opportunities in an expanding marketplace.
• Technology Integration: Everbridge's suite of Software-as-a-Service (SaaS) products, which include mass notification, IT incident management, travel risk management, physical security information management, population alerting, and risk intelligence, will benefit from Thoma Bravo's commitment to fostering innovation. This partnership aims to enhance Everbridge's technological capabilities and support product innovation.
• Competitive Advantage: The acquisition positions Everbridge to better serve its customers by leveraging Thoma Bravo's comprehensive experience in the risk, compliance, and safety sectors. The combined expertise and resources of both companies will strengthen Everbridge's ability to navigate critical events and maintain its leadership position in the market. The transaction also provides a 32% premium to Everbridge's 90-day volume-weighted average share price, reflecting the value and potential of the company's offerings.

Acquisition Terms

• Acquisition Price: The acquisition was valued at approximately $1.8 billion.
• Payment Method: The transaction was an all-cash deal.
• Key Conditions or Agreements:
  • The agreement to acquire Everbridge was approved by Everbridge stockholders at a Special Meeting held on April 25, 2024.
  • Everbridge stockholders are entitled to receive $35.00 per share in cash for each share of Everbridge common stock they owned.
  • Everbridge's common stock will cease trading and be delisted from Nasdaq.
  • The transaction is subject to customary closing conditions, including regulatory approvals.

Impact on Everbridge

The acquisition of Everbridge by Thoma Bravo has led to significant changes in the company's operations and management. Everbridge will now operate as a privately held company under Thoma Bravo's ownership, with its common stock delisted from Nasdaq. David Wagner, President and CEO of Everbridge, will continue to lead the company, ensuring continuity in its strategic direction. This transition is expected to bolster Everbridge's growth and innovation, leveraging Thoma Bravo's expertise in the software and technology sectors to enhance its critical event management solutions.

In terms of product offerings and services, the acquisition is poised to strengthen Everbridge's platform and drive further investment in product innovation. Thoma Bravo's commitment to fostering technological advancements will support Everbridge in better serving its customers and navigating complex threat landscapes. While specific employee and customer reactions were not detailed, the emphasis on growth and improved service suggests a positive outlook. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly, ensuring a smooth and efficient transition.