Security

Everbridge Expands IoT Portfolio with Acquisitions of Connexient & CNL Software

This article was written by Daphne Tomlinson, Senior Research Associate at Memoori. Everbridge recently filed a 10K SEC document reporting 2 acquisitions which enhance their Critical Event Management suite of solutions and broaden support for IoT applications in commercial buildings. The NASDAQ listed public company, reported revenue in 2019 was $200.9 million, an increase of 37% compared to $147.1 million in 2018, with more than 61% of revenue derived from sales of their Mass Notification software. Their customer base has grown to more than 5,000 customers based in 50 countries. The 1st acquisition on 7th February 2020 was Connexient, a New York based startup founded in 2012 with around 50 employees providing digital wayfinding and indoor navigation solutions for the healthcare sector. Everbridge acquired Connexient for a base consideration of $20.5 million. In addition to the base purchase price, there is also a potential contingent payment of up to $6.0 million that can be earned […]

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