PSIM CNL Acquired By Everbridge
The end has finally come for CNL. Despite for years saying they would revolutionize the industry, they have been taken over in a footnote of a financial filing for Everbridge.
But it still is a modest outcome for the company, though far less than what they envisioned.
The bigger story is how big and formidable Everbridge has become, a company whose stock has increased 700% over the past few years.
Inside this note, we look at the outcome for CNL, the outlook for Everbridge and how Everbridge's investor success is a good comparable for Verkada.
Acquisition ********
**********'* **-* *** ************* *** **** *** * ~$** million ******** *****:
** ******** **, ****, ** ******* into * ***** ******** ********* **** CNL ******** ******* (“***”) *** * base ************* ** ************* $**.* *******.
********** ****:
** ******** *** *** *** ********* technology ****** ** ******* *** *** suite ** ********* ** ******* ******* for *** ************.
**** *** * ** * '****-**' deals **** ********** *** **** ** the **** ****:
** ******** *********** ** ***** ****, NC4 ** ****** ****, ********** *** CNL ** ******** ****
CNL ******* / ****
** ******** ***'* ******* ** ** under $** ******* ** **** **** able ** ****** * ***** ******* exemption **** ** ********* ******* *** have ******** * ****** ***** ******* despite ***** ****** *-****** *********.
************, ******, **** ~$*.* ******* ** debt *********** **** *** *****. *******, the ******* **** **** ** **** that ** *** ************ (*.*., **** recently) **** **********.
CNL ************ *********
*** **** **** *** *** **** outside *******,**** ** ********* ******* ********** ************ ******************* **.*% *********, **** ******* **% to **-******* *** ********** ************* *.*% ************'* ***, ******, **** ******** *** *******'* ** of *******:
Everbridge ********
********** ** * **** ************ ******** provider ** ** **** ******** ********** - * '******** ***** **********' *******. Their *** ***** ***** ********* ***** pitch:
********* **** ********** **** *** **** synergies ** ***. *******, ***** * PSIM **** *** *** ******* ** integrating ******** *******, ********** *** **** focused ** ************* **** ** ************'* employees.
Everbridge ***** *******
** **** **** * ***** **** going ******, *** *******'* ***** *** increased **** **** **, **** * valuation ** ****** $* *******:
** **********, *** ***** ********** **** for *** *** **** **** *% of ***** *** *********.
Financials ** **********
********** *** * ****** ****** **** of **% **** *** ***** *** losses ******** ** **** ** **** spend ********** ********* ** ***** *** marketing, ** **** ******* ********* ********** *****:
****** ******* ** ***** ****** *********, the *******'* ******* ** * ********* of *** ***** ***** ******* ********.
*******, **** ********* ****** **** ***** the ******* ** **** ** ** a **** ******** **** ********** *** churn, ******* ******** **** *****:
****** *** **** ****** ***** ********* sold ******** **** *** ***** ********* difficulties *** ******* ******, ********** ** building * **** ******** **** **** 4,500 *********:
Outlook *** ********** / ***
***** **** ** * ***** **** for **********, ** ** * ****** safe *** ***** ***** ********** ***** customer *** ****** *********.
********** *** *** *** ***********, **** their ***** ***** ***** ** ****** and *****-**** ***** ******** **** **** CNL.
Bloodworth ****** ******
***** ********** ********* **************** ** * ********* *** * disruptor, *.*.:
***** ********** ** *** ******* *** CEO ** *** ******** *** ** a ********** ********* *** *** ********* the ****** *** *** ************** *** way ******** ******** ** ****. ** is ********* ********** ** *** ** the *** ** **** *********** ****** in *** ****** ******** ********.
** *** *** ****, ********** **** take **** ~$** ******* **** **** deal.
** *** *****, ** ** * rather *** *** ***** *** *** a ******** (****) **** ********** *** so **** ***** ** ****.
Comparison *** *******
******* *******, ********** ** * ****** good ********** *** *******. ***** **** do *** ******* ********, ********** ***** that ********* **** *** * *********** premium *** * **** ******** ******* with ***-*****, ******** ** ** ********** losses *** **** ***** ** ** runs ** ********* ***** ***** *** marketing ************.
**** ***** ** *** **** ** playbook *** ******* *** ******* ** it ***** ** ****** * ********.
"** ** ********* ********** ** *** of *** *** ** **** *********** people ** *** ****** ******** ********."
********** ** ****?
** *** *** ****, ********** **** take **** ~$** ******* **** **** deal. ** *** *****, ** ** a ****** *** *** ***** *** for * ******** (****) **** ********** for ** **** ***** ** ****.
"*****" ********** ***! ** ***** *** "chums" "*****" ** "*********" *'** **** you ****. **** "*****" ***** ***** be * **** ******* ** * British **** ;)
****** *** ******* **** ***** - I ******* ****** ** ** *** ISC ******. *** * **** **** some ** *** ****** ** ****'** no ****** ****** ** *****. *** must **** *** ***** * *******.
*** *** ** ********** **********...** **** can **** **** *** **** ******** as ** ****** ***** **** ***** at *** ***** ***** **** ***** indeed ** *********.
* ****** ** **** ***** **** capabilities ** ** ***-******** ************* ** well ** **** ************ - **** bit *** ******* *** **. * will *** ** **** * *** around ***** *******...
********** *** * ***** ** ********* products **** * ***** **** ** have. *******, ***** ********** ** ***** what * *** *******. ** ** just ***** **** ***** **** ************ piece!
***** * ******* * *** ****: 'Decacorn', ** * ******* **** * value ** **** ** (****) ******* dollars. '*********' *** $* *******, *** so **.