Thoma Bravo to Take Everbridge Private in $1.5B Deal

Thoma Bravo is acquiring Everbridge, a critical event management software company, in an all-cash, take-private transaction valued at around $1.5 billion, marking the Chicago-based private equity firm’s second major purchase in the last six months.

Thoma Bravo will pay Everbridge stockholders $28.60 per share, or a 20% premium over the stock’s last close.

Everbridge, headquartered in Burlington, MA, was founded in 2002 by Jaime Ellertson and Steve Kirchmeier. The company specializes on critical event management and corporate safety products. The company’s main product is the Critical Event Management (CEM) platform, which helps organizations and governments anticipate, mitigate, respond to, and recover from critical events.

“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,” said Hudson Smith, partner at Thoma Bravo.

The agreement includes a 25-day “go-shop” period expiring on February 29, which permits the Everbridge board and its advisors to “actively initiate and solicit alternative acquisition proposals from certain third parties,” the company said.

The transaction, which was approved by the Everbridge board of directors, is expected to close in the second quarter of 2024.

Thoma Bravo paid $2.3 billion in cash for ForgeRock, an identity and access management software company, in August of 2023. The deal featured a combination with Ping Identity, a cybersecurity firm acquired by Thoma Bravo for $2.4 billion the previous year.