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Thoma Bravo agrees $1.5bn Everbridge take-private deal

Everbridge, a specialist in critical event management and national public warning solutions, has entered into a definitive agreement to be acquired by software investment firm Thoma Bravo, in an all-cash take private transaction that values the business at approximately $1.5bn.

Under the terms of the agreement, Everbridge shareholders will receive $28.60 per share in cash, which represents a 32% premium to the the company’s volume-weighted average share price over the last 90 days.

According to a press statement, the transaction is expected to “help accelerate the company’s continued growth at a time of rising global uncertainty and increased prioritisation of public safety and operational continuity”.

Everbridge was founded in the aftermath of 9/11 with the mission of helping to keep people safe and organisations running amid critical situations.

The transaction, which was approved by Everbridge’s board of directors, and includes a 25-day “go-shop” period expiring on 29 February 2024, is expected to close in the second quarter of 2024, subject to customary closing conditions, including approval by Everbridge shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition.

Upon completion of the transaction, Everbridge common stock will no longer be listed on any public stock exchange. The company will continue to operate under the Everbridge name and brand.

Qatalyst Partners is serving as financial advisor and Cooley is serving as legal counsel to Everbridge. Kirkland & Ellis is serving as legal counsel to Thoma Bravo.

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