Everbridge Inc., an enterprise software company, is exploring strategic options including a sale, according to people with knowledge of the matter. The stock rose more than 17% in after-market trading.
(Bloomberg) — Everbridge Inc., an enterprise software company, is exploring strategic options including a sale, according to people with knowledge of the matter.
The stock rose more than 17% in after-market trading.
The Burlington, Massachusetts-based company is working with an adviser, said the people, who asked to not be identified because the talks are private.
Potential buyers could include industrial companies and private equity firms, the people said. Deliberations are ongoing and Everbridge could still decide to remain independent, they added.
A representative for Everbridge declined to comment.
Everbridge rose 3.7% to close at $35.77 in New York trading Thursday, giving the company a market value of about $1.4 billion.
The stock has fallen about 76% in the past year.
Everbridge provides software to companies that helps them contact employees in the case of natural disasters and other emergencies. Activist investor Ancora Holdings Group said in May that it could fetch more than $70 per share in a sale.
It appointed a new chief executive officer, David Wagner, in late July.
(Updates trading in first paragraph, line about CEO in last paragraph)
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