In a landmark announcement, Everbridge, Inc. (Nasdaq: EVBG), a global leader in critical event management (CEM) and national public warning solutions, revealed it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm. The all-cash transaction, valued at approximately $1.5 billion, is poised to significantly accelerate Everbridge’s growth trajectory during a period marked by increased global uncertainty and a heightened focus on public safety and operational continuity.

Under the terms of the agreement, Everbridge shareholders will receive $28.6 per share in cash, which represents a 32% premium over the company’s volume-weighted average share price over the last 90 days. This offer underscores Thoma Bravo’s commitment to delivering immediate, compelling, and certain value to Everbridge shareholders.

Founded in the aftermath of 9/11, Everbridge has been on a mission to keep people safe and organizations operational amid critical situations. With a suite of Software-as-a-Service (SaaS) products that address mass notification, IT incident management, and risk intelligence, Everbridge has established itself as a trusted partner for over 6,500 customers worldwide, including major enterprises and government bodies.

David Wagner, President and CEO of Everbridge, emphasized that joining Thoma Bravo marks a pivotal moment for the company, enabling it to better navigate the complex threat landscape and continue its mission with enhanced resources and innovation support.

Thoma Bravo expressed enthusiasm about partnering with Everbridge to expand its capabilities in the growing market for risk, compliance, and safety solutions. The investment firm sees significant potential for product innovation and profitable growth within Everbridge’s comprehensive portfolio, which is already trusted by some of the world’s most respected corporations and organizations.

The transaction, unanimously approved by the Everbridge Board of Directors, is expected to close in the second calendar quarter of 2024, subject to customary closing conditions and regulatory approvals. A notable aspect of the agreement is the inclusion of a 25-day “go-shop” period, allowing Everbridge to seek alternative acquisition proposals, ensuring the best possible outcome for shareholders.

Upon completion, Everbridge will become a privately held company, continuing operations under its established name and brand, with the common stock delisted from public exchanges. This new chapter promises to bolster Everbridge’s ability to provide critical event management solutions, enhancing public safety and operational continuity across the globe.

Qatalyst Partners and Cooley LLP are serving as financial and legal advisors to Everbridge, respectively, while Kirkland & Ellis LLP is providing legal counsel to Thoma Bravo. This strategic alignment of experienced advisors highlights the careful consideration and planning behind the acquisition.

The acquisition of Everbridge by Thoma Bravo represents a significant milestone in the evolution of critical event management technology and solutions. With the backing of Thoma Bravo’s expertise and resources, Everbridge is well-positioned to accelerate its growth initiatives, innovate further, and continue playing a crucial role in enhancing global safety and operational resilience.

  David Wagner, Everbridge, SaaS, Thoma Bravo