M&A · Tech · Services-Prepackaged Software
Thoma Bravo to acquire Everbridge, Inc.
Announced Feb 5, 2024 · Closed Jul 2, 2024
Deal value$1.50BEV $1.44B
Premium47.0%To unaffected price
EV / Adj. EBITDA—3.2x EV / Revenue
ConsiderationAll cash$28.60 per share
Transaction
- Acquirer
- Thoma Bravo
- Target
- Everbridge, Inc. (EVBG)
- Buyer type
- Private equity
- Offer price per share
- $28.60
- Enterprise value
- $1.44B
- Status
- Closed Jul 2, 2024
Deal protections
- Break fee (target pays)
- $40.4M · 2.7%
- Reverse fee (buyer pays)
- $124M · 8.3%
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Raymond James
- To the target
- Qatalyst
- Qatalyst fee
- $3.0M
Sector context · Tech
- Comparable deals
- 58 in the prior 24 months
- Premium
- 47.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- Sector median 15.9x
- Break fee
- 2.7% vs. 3.0% sector median
Timeline
- AnnouncedFeb 5, 2024
- Proxy filedMar 11, 2024
- Definitive proxyMar 21, 2024
- Shareholder voteApr 25, 2024
- ClosedJul 2, 2024
Valuation · fairness opinions
Discounted cash flow$18.80$31.94
Discounted cash flow$15.41$31.07
Discounted cash flow$15.52$31.25
Discounted cash flow$15.91$32.25
Discounted cash flow$14.23$29.28
Offer $28.60
Implied value per Everbridge, Inc. share by analysis, from Qatalyst.