Why Everbridge Stock Popped Today
Shares of Everbridge (NASDAQ: EVBG) soared by 18.4% on Monday after the critical event management (CEM) software company agreed to be acquired by private equity firm Thoma Bravo.
In a press release Monday morning, Everbridge announced it has entered into a definitive agreement to be acquired by Thoma Bravo for $28.60 per share in cash. That's a 32% premium over its 90-day volume-weighted average share price, and values Everbridge at roughly $1.5 billion.
Everbridge Chairman David Henshall noted that the company has "consistently reviewed [its] stand-alone opportunity against other strategic opportunities, including dialogue with a range of potential partners" over the past several years. "This agreement is the result of those efforts and reflects our commitment to maximizing value and certainty on behalf of our shareholders," he said.
Source Fool.com
