- xMatters combines with Everbridge CEM to power the next generation of enterprise-wide digital/physical Fusion Centers via a single pane of glass
- Combination will accelerate digital transformation across IT Service Operations, Cybersecurity and DevOps incident response management, thereby reducing costs, protecting revenue and reputation for businesses
The acquisition of xMatters represents another significant step in Everbridge’s commitment to better serve customers and create increased shareholder value.
The combination of the two companies’ technologies and teams creates 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 (MTTR), remediate breaches and restore services rapidly. For today’s digital/physical Fusion Centers, Everbridge and xMatters will together provide an expanded set of features to proactively discover IT issues quickly, assemble responders, apply remediation code, manage patches and drive continuous improvement with analytics – significantly increasing customer satisfaction.
“In an increasingly virtual world – facing dramatically more remote employees, the rapid expansion in inter-connected devices and systems through Internet of Things (IoT), and rising instances of damaging cyberattacks – IT organizations for large enterprises and governments are under pressure like never before to accelerate their digital transformation while providing solutions for IT resiliency and uptime,” said
“By combining our innovative technology and team with Everbridge, we expect our customers and partners will collectively benefit from the most innovative capabilities to transform how they ensure great customer experiences while ensuring digital service resilience,” said
Continued Meredith, “The Everbridge and xMatters teams create a natural and strong cultural fit, combining our extensive and shared industry recognition for technology and innovation, customer success, and focus on creating top places to work.”
Founded in 2000, xMatters is a privately-held company headquartered in
Under the terms of the agreement, Everbridge will acquire all of the outstanding equity of xMatters for approximately two-thirds cash and one-third stock. The Company expects the transaction to close by the end of the second quarter, subject to Hart-Scott-Rodino regulatory review and other customary closing conditions. Everbridge anticipates the partial year contribution to 2021 revenue will be approximately
xMatters is a service reliability platform that helps DevOps, Site Reliability Engineers (SREs), and operations teams rapidly deliver products at scale by automating workflows and ensuring infrastructure and applications are always working. The xMatters code-free workflow builder, adaptive approach to incident management, and real-time performance analytics all support a single goal: deliver customer happiness. Over 2.7 million users trust xMatters daily at successful startups and global giants including athenahealth,
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 contemplated closing of, and anticipated benefits from, the acquisition of xMatters, 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, our goal to maintain market leadership and extend the markets in which we compete for customers, and anticipated impact on financial results. 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: the ability of our products and services to perform as intended and meet our customers’ expectations; our ability to successfully close the acquisition of xMatters and integrate xMatters’ people, technology, and business, as well as other businesses and assets that we may acquire; the financial impact from the acquisition of xMatters, including impact on our revenue and adjusted EBITDA in 2021 and in future years; our ability to attract new customers and retain and increase sales to existing customers; our ability to increase sales of our Mass Notification application, our CEM for Digital solution, 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 attract, integrate and retain qualified personnel; 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
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