Thoma Bravo Completes Acquisition of Everbridge
July 02 2024 - 8:46AM
Business Wire
Thoma Bravo, a leading software investment firm, today announced
the completion of its acquisition of Everbridge, Inc. (“Everbridge”
or the “Company”), a global leader in critical event management and
national public warning solutions, in an all-cash transaction
valued at approximately $1.8 billion. The agreement to acquire
Everbridge was approved by Everbridge stockholders at the Special
Meeting of Stockholders held on April 25, 2024.
With the completion of the transaction, Everbridge stockholders
are entitled to receive $35.00 per share in cash for each share of
Everbridge common stock they owned. The Company’s common stock has
ceased trading and will be delisted from Nasdaq.
“This is an exciting step forward for Everbridge and we are
thrilled to begin our next chapter alongside Thoma Bravo,” said
David Wagner, President and CEO of Everbridge. “We share a common
vision for the future of Everbridge that we expect will see us
strengthen and grow our platform, further enable product innovation
and invest in our talented team. As part of Thoma Bravo, we believe
we will be better able to advance our mission of helping our
customers navigate an increasingly complex threat landscape and
drive accretive, long-term growth for our company.”
“We are looking forward to working with David and his team on
their value-creating growth plans,” said Hudson Smith, Partner at
Thoma Bravo. “Everbridge has an incredibly strong foundation, with
an expansive and innovative product portfolio that plays a critical
role in the day-to-day operations of thousands of the world’s most
well-respected organizations. We are confident that they can
successfully build on that foundation and see tremendous growth
potential ahead for the Company.”
“In a fast-changing and increasingly complex world, Everbridge’s
products and services are more relevant than ever for business
leaders globally,” said Matt LoSardo, Principal at Thoma Bravo.
“Thoma Bravo has deep expertise within the risk, compliance and
safety space, and we are excited to leverage that to help
Everbridge advance its mission, better serve its customers and
accelerate its growth.”
Advisors
Qatalyst Partners served as financial advisor to Everbridge and
Cooley LLP served as legal counsel to Everbridge. Raymond James
served as financial advisor to Thoma Bravo and Kirkland & Ellis
LLP served as legal counsel to Thoma Bravo.
About Everbridge
Everbridge empowers enterprises and government organizations to
anticipate, mitigate, respond to, and recover stronger from
critical events. In today’s unpredictable world, resilient
organizations minimize impact to people and operations, absorb
stress, and return to productivity faster when deploying critical
event management (CEM) technology. Everbridge digitizes
organizational resilience by combining intelligent automation with
the industry’s most comprehensive risk data to Keep People Safe and
Organizations Running™. For more information, visit
https://www.everbridge.com/, read the company blog, and follow on
LinkedIn.
About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in
the world, with approximately US$142 billion in assets under
management as of March 31, 2024. Through its private equity, growth
equity and credit strategies, the firm invests in growth-oriented,
innovative companies operating in the software and technology
sectors. Leveraging Thoma Bravo's deep sector knowledge and
strategic and operational expertise, the firm collaborates with its
portfolio companies to implement operating best practices and drive
growth initiatives. Over the past 20+ years, the firm has acquired
or invested in more than 480 companies representing approximately
US$265 billion in enterprise value (including control and
non-control investments). The firm has offices in Chicago, London,
Miami, New York and San Francisco. For more information, visit
Thoma Bravo's website at thomabravo.com.
Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“continue,” “guidance,” “expect,” “outlook,” “project,” “believe”
or other similar expressions that predict or indicate future events
or trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding the benefits of the transaction. These
forward-looking statements are based on Everbridge’s current
expectations, estimates and projections about the potential
benefits of the transaction, Everbridge’s business and industry,
management’s beliefs and certain assumptions made by Everbridge and
Thoma Bravo, all of which are subject to change. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on
as, a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and circumstances
are difficult or impossible to predict and may differ from
assumptions. Many actual events and circumstances are beyond the
control of Everbridge. These forward-looking statements are subject
to a number of risks and uncertainties, including: (i) the effects
of geopolitical, economic and market conditions, including
heightened inflation, slower growth or recession, changes to fiscal
and monetary policy, higher interest rates, currency fluctuations
and challenges in the supply chain; (ii) the risk of any unexpected
costs or expenses resulting from the transaction; (iii) the risk of
any litigation relating to the transaction; (iv) and the risk that
the transaction and the announcement of its completion could have
an adverse effect on the ability of Everbridge to retain and hire
key personnel and to maintain relationships with customers,
vendors, partners, employees and other business relationships and
on its operating results and business generally. These risks, as
well as other risks associated with the transaction, are more fully
discussed in the definitive proxy statement filed with the
Securities and Exchange Commission in connection with the
transaction. If any of these risks materialize or any of these
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that Everbridge presently does not know of
or that Everbridge currently believes are immaterial that could
also cause actual results to differ from those contained in the
forward-looking statements. The forward-looking statements included
in this press release are made only as of the date hereof.
Everbridge assumes no obligation and does not intend to update
these forward-looking statements, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240701424987/en/
Everbridge Jeff Young jeff.young@everbridge.com (781)
859-4116
Thoma Bravo Contacts Megan Frank (212) 731-4778
mfrank@thomabravo.com
OR
FGS Global Akash Lodh / Allessandra Reuben
ThomaBravo-US@fgsglobal.com