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Everbridge (EVBG) Set to Acquire Software Marker xMatters
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Everbridge recently announced that it will acquire software maker xMatters for around $240 million in cash and stock pending regulatory approval. The company expects the transaction to close by the end of the second quarter of 2021.
xMatters is a service reliability platform that helps DevOps, Site Reliability Engineers, and operations teams rapidly deliver products at scale by automating workflows and ensuring infrastructure and applications are always working.
The integration of their technologies and teams will aid Everbridge in creating a powerful IT Alerting and Incident Management offering, providing security and IT professionals with seamless orchestration, business processes and automated tools to reduce mean time to restore, remediate breaches and restore services rapidly.
Besides, the company is benefiting from solid demand for its critical event management (CEM) solutions amid the coronavirus outbreak, especially Everbridge’s CEM suite, including its COVID-19 Shield, Return-to-Work/Campus and Contact Tracing solutions.
The pandemic has highlighted the need for a CEM solution to put a strong risk management strategy in place, which would ensure the safety of people and operations across enterprises.
Recently, the company launched the expanded CEM software solution suite that provides organizations with comprehensive, end-to-end operating environment to take an ‘Assess, Locate, Act and Analyze’ closed loop approach to manage critical events while delivering significant return on investment (ROI) through increased revenues and reduced costs.
Additionally, the company has also expanded its CEM platform through a series of acquisitions since 2020, including Techwan SA, CNL Software Limited, SnapComms Limited and Red Sky acquired in January 2021 to further augment its physical security, public safety and internal communications capabilities.
Markedly, the company revealed that its platform, which is used by business, healthcare and government organizations worldwide, has exceeded 5 billion communications in 2020.
Moreover, the company’s platform reaches out to more than 650 million people across 200 countries, reflecting its strong international presence. For the year ended Dec 31, 2020, over 26% of total revenues were derived from customers located outside of the United States. Moreover, it is utilized by more than 5,613 enterprise customers globally.
Top organizations including Goldman Sachs (GS - Free Report) , Siemens and Olympus utilize the company’s CEM Platform to identify the severity of threats and their potential effect across the organization and take necessary actions accordingly for the mitigation of threats.
Moreover, the company is expected to benefit from the rapidly growing global mass notification systems market, which is expected to reach $33.85 billion in 2028 and register a CAGR of 19.9% between 2020 and 2028, according to the latest analysis by Emergen Research, as cited by EverBridge.
Everbridge’s mass notification platform has gained significant traction from federal agencies including the United States General Services Administration (GSA), which chose the company’s platform to ensure the protection of the agency’s employees and operations from all kinds of critical events across more than 700 locations.
Long-term earnings growth rate for Upland Software and Veeva Systems is currently pegged at 10% and 14.4%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Everbridge (EVBG) Set to Acquire Software Marker xMatters
Everbridge recently announced that it will acquire software maker xMatters for around $240 million in cash and stock pending regulatory approval. The company expects the transaction to close by the end of the second quarter of 2021.
xMatters is a service reliability platform that helps DevOps, Site Reliability Engineers, and operations teams rapidly deliver products at scale by automating workflows and ensuring infrastructure and applications are always working.
The integration of their technologies and teams will aid Everbridge in creating a powerful IT Alerting and Incident Management offering, providing security and IT professionals with seamless orchestration, business processes and automated tools to reduce mean time to restore, remediate breaches and restore services rapidly.
Besides, the company is benefiting from solid demand for its critical event management (CEM) solutions amid the coronavirus outbreak, especially Everbridge’s CEM suite, including its COVID-19 Shield, Return-to-Work/Campus and Contact Tracing solutions.
Everbridge, Inc. Price and Consensus
Everbridge, Inc. price-consensus-chart | Everbridge, Inc. Quote
Strong Adoption of CEM Solutions Aids Growth
The pandemic has highlighted the need for a CEM solution to put a strong risk management strategy in place, which would ensure the safety of people and operations across enterprises.
Recently, the company launched the expanded CEM software solution suite that provides organizations with comprehensive, end-to-end operating environment to take an ‘Assess, Locate, Act and Analyze’ closed loop approach to manage critical events while delivering significant return on investment (ROI) through increased revenues and reduced costs.
Additionally, the company has also expanded its CEM platform through a series of acquisitions since 2020, including Techwan SA, CNL Software Limited, SnapComms Limited and Red Sky acquired in January 2021 to further augment its physical security, public safety and internal communications capabilities.
Markedly, the company revealed that its platform, which is used by business, healthcare and government organizations worldwide, has exceeded 5 billion communications in 2020.
Moreover, the company’s platform reaches out to more than 650 million people across 200 countries, reflecting its strong international presence. For the year ended Dec 31, 2020, over 26% of total revenues were derived from customers located outside of the United States. Moreover, it is utilized by more than 5,613 enterprise customers globally.
Top organizations including Goldman Sachs (GS - Free Report) , Siemens and Olympus utilize the company’s CEM Platform to identify the severity of threats and their potential effect across the organization and take necessary actions accordingly for the mitigation of threats.
Moreover, the company is expected to benefit from the rapidly growing global mass notification systems market, which is expected to reach $33.85 billion in 2028 and register a CAGR of 19.9% between 2020 and 2028, according to the latest analysis by Emergen Research, as cited by EverBridge.
Everbridge’s mass notification platform has gained significant traction from federal agencies including the United States General Services Administration (GSA), which chose the company’s platform to ensure the protection of the agency’s employees and operations from all kinds of critical events across more than 700 locations.
Zacks Rank & Stocks to Consider
Everbridge currently has a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the broader technology sector are Upland Software, Inc. (UPLD - Free Report) and Veeva Systems Inc. (VEEV - Free Report) . Both stocks carry a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for Upland Software and Veeva Systems is currently pegged at 10% and 14.4%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>