IDV’s Threat Assessment and Operational Visualization Solution to
Become Part of Industry’s First Integrated Software Platform for
Managing Critical Events
BURLINGTON, Mass.--(BUSINESS WIRE)--Jan. 31, 2017--
Everbridge,
Inc. (NASDAQ: EVBG), a global software company that provides critical
communications and enterprise safety applications to help keep people
safe and businesses running, today announced that it has acquired
IDV Solutions, LLC, a leading provider of threat assessment and
operational visualization software. IDV’s powerful Visual
Command Center® (“VCC”) application displays an integrated picture
of external threats and events overlaid with an organization’s people,
assets and supply routes, along with other contextual information to
enable timely assessment and operational response. In combination with
Everbridge’s critical communication, incident management and employee
safety capabilities, IDV’s VCC application will form a key component of
the industry’s first Critical Event Management™ (CEM) platform for
dynamically assessing, responding to, and managing the resolution of the
wide range of threats and disruptions which impact organizations’ daily
operations.
IDV Solutions transforms an organization’s situational intelligence and
operational visibility during a critical event. The VCC application
enables customers to monitor and integrate more than 100 types of threat
data, as well as information on internal incidents, to generate and
visualize an alert when potential risks occur within proximity of an
organization’s physical locations, suppliers, assets and people. The
solution improves the ability to more quickly understand and assess the
impact of threats, execute the correct response, and monitor on-going
resolution in order to mitigate risk to personnel safety, business
continuity, assets and supply chain operations. The highly visual and
intuitive VCC solution is used by global distribution companies such as
Amazon, leading technology companies such as Dell and VMware,
pharmaceutical giants such as Pfizer, major retailers such as Tiffany &
Company, large energy companies such as Noble Energy, supply chain
leaders such as XPO Logistics, and government entities such as St. Clair
County in Michigan.
IDV has been an Everbridge strategic partner since 2014. Everbridge’s
global, multi-modal communication capabilities enhance VCC’s ability to
help companies take action based upon identified risks, and Everbridge’s Safety
Connection® application will enable users of VCC to more dynamically
locate people who may be at risk, or can respond to an incident.
Industry’s First Critical Event Management (“CEM”) Platform
Everbridge
is integrating its market leading critical communication, incident
management (enhanced by the previously announced Crisis
Commander acquisition) and employee safety capabilities with the
threat assessment and visualization capabilities of the VCC application
to create the industry’s first CEM platform. Everbridge’s CEM is
designed to provide organizations with a single platform for managing
the full array of intelligence, coordination and task execution items
required to speed the response to the many critical incidents that
impact daily operations, including severe weather, terrorism, workplace
violence, IT outages and cyberattacks, supply chain disruptions, product
recalls, environmental accidents or power outages. The annual cost of
these types of events exceeded $535 billion in 2015, and they are
complex to assess, manage and mitigate.
CEM will provide organizations with a more integrated operational
approach to the often disparate systems used today to manage major
incidents and IT operations events by delivering an end-to-end view
integrating threats, operational impact and response status information
on a “single pane of glass.” CEM is intended to enable corporate and
government organizations to consolidate overlapping systems and drive
cost efficiencies, as well as to improve response time, minimize
disruption, and attain better management control in handling critical
events. The CEM platform will also integrate with leading Governance,
Risk and Compliance (GRC) as well as Business Continuity Planning (BCP)
solutions.
“Many of our over 3,000 corporate and government customers have told us
that they are spending hundreds of thousands of dollars supporting
separate command centers for security, IT, and supply chain operations,
and yet they still struggle to manage the increasing number of critical
events affecting their enterprises,” said Jaime Ellertson, CEO,
Everbridge. “We believe CEM can provide a unified understanding of these
critical events through a common platform that will enable a higher
level of situational intelligence and collaboration, ultimately reducing
the cost and overall impact to operations.”
“Leveraging Everbridge’s deep and complementary technical capabilities
will enhance our ability to provide even more strategic value and
expertise to our customers,” said Mark Morrison, CEO, IDV Solutions.
“The ability to combine security, supply chain and IT operations threats
and incidents in one common view, ensure all the relevant stakeholders
are informed and receive feedback from them, have continuous visibility
into the status of remediation, and analyze team performance over time
to identify bottlenecks and make improvements will greatly enhance the
impact of our current solutions.”
Financial Information
The aggregate consideration paid by
Everbridge was approximately $18.7 million in cash, with additional time
and performance-based cash payments that could total as much an
additional $8.7 million. Everbridge will provide specific information on
the expected impact of the acquisition on Everbridge’s financial results
after completing its purchase accounting review. In addition, as
previously announced, Everbridge will report its fourth quarter and full
year 2016 financial results on February 27, 2017, at which time it will
also provide guidance for its business for the first quarter and full
year 2017.
About Everbridge
Everbridge,
Inc. (NASDAQ: EVBG) is a global software company that provides critical
communications and enterprise safety applications that enable customers
to automate and accelerate the process of keeping people safe and
businesses running during critical events. During public safety threats
such as active shooter situations, terrorist attacks or severe weather
conditions, as well as critical business events such as IT outages or
cyber incidents, over 3,000 global customers rely on the company’s
SaaS-based platform to quickly and reliably construct and deliver
contextual notifications to millions of people at one time. The
company’s platform sent over 1.5 billion messages in 2016, and offers
the ability to reach more than 200 countries and territories with secure
delivery to over 100 different communication devices. The company’s
critical communications and enterprise safety applications, which
include Mass Notification, Incident Management, IT Alerting, Safety
Connection™, Community Engagement™, Secure Messaging and Internet of
Things, are easy-to-use and deploy, secure, highly scalable and
reliable. Everbridge serves 8 of the 10 largest U.S. cities, 8 of the 10
largest U.S.-based investment banks, all four of the largest global
accounting firms, 24 of the 25 busiest North American airports and 6 of
the 10 largest global automakers. Everbridge is based in Boston and Los
Angeles with additional offices in San Francisco, Beijing and London.
For more information, visit www.everbridge.com,
read the company blog,
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and Facebook.
About IDV Solutions, LLC
IDV Solutions, LLC empowers
organizations to take command of risk by delivering threat assessment
and command center software that is used to protect people and assets,
ensure continuity of operations and create competitive advantage. Its
Visual Command Center® software is a visualization platform for
situation intelligence and response used in organizational functions
such as business continuity, security, supply chain and operations to
mitigate or eliminate the impact of risk. By helping organizations in
the Global 2000 and government transform their understanding and
visibility of actions, they are able to excel at managing operational
risk. For more information, please visit idvsolutions.com.
Cautionary Language Concerning Forward-Looking Statements
This
press release contains "forward-looking statements" within the meaning
of the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, including but not limited to, statements regarding
the anticipated opportunity and trends for growth in our critical
communications and enterprise safety applications and our overall
business, our market opportunity, our expectations regarding sales of
our products, and our goal to maintain market leadership and extend the
markets in which we compete for customers. These forward-looking
statements are made as of the date of this press release and were based
on current expectations, estimates, forecasts and projections as well as
the beliefs and assumptions of management. Words such as "expect,"
"anticipate," "should," "believe," "target," "project," "goals,"
"estimate," "potential," "predict," "may," "will," "could," "intend,"
variations of these terms or the negative of these terms and similar
expressions are intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that are
beyond our control. Our actual results could differ materially from
those stated or implied in forward-looking statements due to a number of
factors, including but not limited to: our ability to market and sell
newly acquired products; our ability to attract new customers and retain
and increase sales to existing customers; our ability to increase sales
of our Mass Notification application and/or ability to increase sales of
our other applications; developments in the market for targeted and
contextually relevant critical communications or the associated
regulatory environment; our estimates of market opportunity and
forecasts of market growth may prove to be inaccurate; we have not been
profitable on a consistent basis historically and may not achieve or
maintain profitability in the future; the lengthy and unpredictable
sales cycles for new customers; nature of our business exposes us to
inherent liability risks; our ability to successfully integrate
businesses and assets that we may acquire; our ability to maintain
successful relationships with our channel partners and technology
partners; our ability to manage our growth effectively; our ability to
respond to competitive pressures; potential liability related to privacy
and security of personally identifiable information; our ability to
protect our intellectual property rights, and the other risks detailed
in our risk factors discussed in filings with the U.S. Securities and
Exchange Commission (“SEC”), including but not limited to our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2016 filed with
the SEC on November 14, 2016. The forward-looking statements included in
this press release represent our views as of the date of this press
release. We undertake no intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. These forward-looking statements should not
be relied upon as representing our views as of any date subsequent to
the date of this press release.
All Everbridge products are
trademarks of Everbridge, Inc. in the USA and other countries. All other
product or company names mentioned are the property of their respective
owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170131005357/en/
Source: Everbridge, Inc.
Investor Contact
ICR
Garo Toomajanian, 818-230-9712
IR@everbridge.com
or
Media
Contact
Everbridge
Jeff Benanto, 781-373-9879
jeff.benanto@everbridge.com