Technology-focused investor Thoma Bravo has agreed to acquire Everbridge, a CEM software company.
The all-cash transaction values Everbridge at approximately $1.5bn.
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Everbridge, founded in 2002, is engaged in offering national public warning solutions and CEM services.
Thoma Bravo said the deal will bolster Everbridge’s growth amidst increasing global uncertainties and the need for enhanced public safety and operational continuity.
As part of the agreement, Everbridge shareholders will receive $28.60 per share in cash, which is a 32% premium over the company’s volume-weighted average share price for the past 90 days.
Everbridge’s suite of software-as-a-service products includes mass notification, IT incident management, travel risk management, physical security information management, population alerting, and risk intelligence.
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By GlobalDataThe company’s solutions are used by multi-national enterprises across various industries, including financial services, manufacturing, retail, transportation, energy & gas, and education.
Additionally, Everbridge serves national, state, and local government bodies and US Federal agencies.
Following the completion of the transaction, which is anticipated in the second calendar quarter of 2024, Everbridge will become a privately held company.
It will continue to operate under the Everbridge name and brand.
Thoma Bravo partner Hudson Smith said: “We look forward to working with Everbridge to expand their ability to capitalise 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.”
Everbridge president and CEO David Wagner said: “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 organisations running.”
The deal has already received approval from the Everbridge board of directors and is now subject to customary closing conditions.
