Thoma Bravo Completes Acquisition of Everbridge
BURLINGTON, Mass. & MIAMI--(BUSINESS WIRE)--July 02, 2024--
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$(TM)$. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240701424987/en/
CONTACT: 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
(END) Dow Jones Newswires
July 02, 2024 08:49 ET (12:49 GMT)
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