The first acquisition, New York based Connexient, which Everbridge acquired for $20.5 million, is a start up company providing digital wayfinding and indoor navigation solutions for the healthcare sector. There is also a potential contingent payment of up to $6.0 million that can be earned by the sellers, based on fiscal year 2020 revenue figures.

The second acquisition towards the end of February was CNL Software, a UK based PSIM company founded in 2001, which Everbridge has acquired for a base consideration of approximately $35.7 million.

"The CNL acquisition enhances Everbridge’s enterprise risk management approach and broadens their PSIM portfolio, which was previously enhanced in January 2017 when the company acquired IDV, a US based software solutions provider for powering command centers for $18.7 million plus add-ons. The CNL transaction will also enhance Everbridge’s long-term growth strategy to expand outside the United States. It is their 5th international acquisition in the last 6 years." commented Daphne Tomlinson, Senior Research Associate at Memoori.

The upgraded Everbridge CEM platform will feature a new IoT extension module that will leverage the intellectual property rights of Connexient and CNL Software, enabling organisations to gather a broader range of situational intelligence and automate targeted responses throughout their entire safety, security, and operational continuum – from across a global footprint to within campuses and facilities.

With the number of IoT devices expected to approach 75 billion by 2025, the Everbridge CEM platform enables organisations to utilise vast amounts of electronic data, including IoT sensors, to digitally transform how they manage the safety and security of their employees, customers, patients, first responders, residents, and visitors, as well as the resiliency of their operations and supply chain. CEM for IoT extends the number of use cases for the Everbridge platform within the broader critical event management market, complementing the company’s existing offerings for supply chain and wearable devices.

According to Everbridge, companies, governments and healthcare organisations are utlising CEM to mitigate risks from corona virus with several million COVID-19 related communications deployed by Everbridge in recent weeks. The expansion of CEM for IoT enhances corona virus-related use cases to better protect people, operations, supply chain and brand. CEM for IoT improves the ability to coordinate first responders and other critical healthcare resources such as intensive care unit (ICU) beds, respirators, expert medical staff, etc., based on real-time data on the broader impact of COVID-19.

The acquisitions of Connexient and CNL Software augment the IoT capabilities of the Everbridge CEM Platform bringing the total number of out-of-the-box integrations to over 225. Integrations include numerous healthcare systems, indoor positioning, digital wayfinding, building management, access control, intruder detection, video management, and many more. Everbridge solutions secure major events, cities, states, military installations, government buildings, universities, airports, corporate campuses, and healthcare facilities, providing instrumental functionality to safe city and smart building use cases across multiple critical events including corona virus.

“The CEM platform monitors threat data streams continuously, alerts stakeholders when there is a relevant issue, and automatically orchestrates a coordinated response—it is always on,” said Imad Mouline CTO of Everbridge.

Everbridge has experience with early implementations of Safe City and Smart Building programmes in both the public safety and corporate space. According to IHS Markit, the global Safe City market will reach $35.8 billion in 2024. Brand Essence Market Research forecasts the overall Smart Building market will grow to $59 billion in 2025. The utilisation of a network of connected devices, or IoT, will make up a portion of both markets.