Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical event management (CEM), today announced the completion of its acquisition of xMatters, a leading provider of IT Service Operations, Cybersecurity and DevOps incident response management.
On April 6, 2021, Everbridge announced a definitive agreement between the parties pursuant to which Everbridge would acquire all of the outstanding equity of xMatters.
Everbridge’s end-to-end CEM platform, combined with xMatters’ solutions, digitally transforms how organizations manage, respond to, and mitigate IT and cyber incidents, helping organizations protect and enable revenue while reducing expenses.
CEM can be deployed rapidly on a modular basis supporting hundreds of positive-ROI use cases, including for people and life safety, operations and business continuity, supply chain risk, IoT and the smart enterprise, and IT incidents and cybersecurity.
“xMatters’ strong position within many of the Fortune 1000 and Global 2000 adds even greater value to our CIO and C-suite customers and prospects across large enterprises. For many of these C-level decision makers, IT incident and cyber response management remains critical to protecting revenue, productivity and reputation – one of Everbridge’s fastest growing use cases,” said David Meredith, CEO of Everbridge. “xMatters’ technology will complement our successful IT alerting business, providing a natural combination to further strengthen our CEM for Digital solution. Our two companies share award-winning cultures as best places to work, and we are excited to welcome the talents of the xMatters team into the Everbridge family.”
“The combination of our xMatters team and technologies with Everbridge will enable us to provide our collective customers and partners with a highly-differentiated, end-to-end platform for transforming digital service resilience,” said Troy McAlpin, CEO at xMatters. “For our customers, digital business is their lifeblood and when that business is interrupted every second counts. With our acquisition now complete, we’re looking forward to further extending the power of critical event management (CEM) across an enterprise’s IT incident, digital service delivery, cyber security, and DevOps environments to help organizations ensure uninterrupted customer experiences.”
With the rising challenges and opportunities associated with the Future of Work, Internet of Things (IoT), Big Data, and 5G, Everbridge’s CEM suite of software solutions digitally transforms how organizations keep their digital and physical operations running, mapping risk intelligence with the automated tools to manage the full-lifecycle of an IT disruption or services issue.
Automating and streamlining how organizations manage, respond to, and mitigate a crisis, as well as protecting revenue while improving cost efficiencies, CEM represents a ‘must have’ set of standards and best practices that forward-looking CEOs and boards increasingly incorporate into how they govern operational risk from unplanned events.
According to a Gartner report, it is predicted “By 2025, 70% of CEOs will mandate a culture of organizational resilience to survive coinciding threats from COVID-19, cybercrime, severe weather events, civil unrest and political instabilities.”
Another Gartner report stated “Organizations that have been able to optimize their IT support model are able to free up resources to be reinvested into projects that advance the organization’s strategic initiatives and begin reducing their technical debt. However, organizations that are hampered by labor-intensive IT support models find themselves overwhelmed with operational activities.”
Summarized Meredith, “The acquisition of xMatters represents another significant step in Everbridge’s commitment to better serve customers and create increased shareholder value. We intend to leverage our large, combined R&D teams to further innovate with data analytics and AI Ops, and to drive innovation and value for our customer base.”