Everbridge to go private in a $1.5 billion buyout deal with PE firm Thoma Bravo

Everbridge announced on Monday it would be acquired by U.S. private equity firm Thoma Bravo in a cash deal valued at approximately $1.5 billion, making it Thoma Bravo’s second major acquisition within the past six months.

As part of the agreement, Thoma Bravo will pay Everbridge shareholders $28.60 per share, representing a 20% premium to the stock’s recent closing price. This news led to an over 18% increase in Everbridge’s shares during premarket trading. Once the transaction is finalized, which is expected in the second quarter, Everbridge will transition into a privately held company, Reuters reported.

In August 2023, Thoma Bravo acquired identity and access management software firm ForgeRock for $2.3 billion in an all-cash transaction. The acquisition involved a merger with Ping Identity, a cybersecurity firm that Thoma Bravo had acquired the previous year for $2.4 billion.

Founded in 2002 by Jaime Ellertson and Steve Kirchmeier, the Burlington, Massachusetts-based Everbridge specializes in critical event management and enterprise safety applications. The company’s primary offering is the Critical Event Management (CEM) platform, which aids businesses and governments in anticipating, mitigating, responding to, and recovering from critical events.

Everbridge’s platform integrates various communication channels, including mobile alerts, emails, SMS, voice calls, and social media, to provide real-time communication during emergencies such as natural disasters, terrorist attacks, and cyber incidents. This enables organizations to promptly notify and mobilize their employees, customers, and stakeholders to ensure their safety.

In addition to the CEM platform, Everbridge provides customized solutions for various industries and scenarios, including public safety, government, healthcare, corporate security, and business continuity. These solutions encompass features such as incident response automation, risk intelligence, crisis management, threat assessment, and business continuity planning.

Since its inception over two decades ago, Everbridge has become a leading provider of critical event management solutions, serving a diverse clientele worldwide, including government agencies, multinational corporations, healthcare institutions, universities, and non-profit organizations. Organizations rely on Everbridge’s technology to help them mitigate risks, protect assets, and maintain operational resilience in the face of unexpected events.