PSIM CNL Acquired By Everbridge

By John Honovich, Published Mar 09, 2020, 10:58am EDT (Info+)

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 ***** ** ****** * ********.

Comments (11)

Today I learned a new word: 'Decacorn', or a company with a value of over 10 (deca) billion dollars. 'Octocorns' are $8 billion, and so on.

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Chump change word. What is the word for trillion $ valuation? Unicorn?

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Teracorn?

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Elote?

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That & $1.00 will get you an Earacorn...

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"He is regularly recognized as one of the top 10 most influential people in the global security industry."

recognized by whom?

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IFSEC. It is a UK old boy, buddy thing.

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On the one hand, Bloodworth will take home ~$20 million from this deal. On the other, it is a rather sad and quiet end for a category (PSIM) that Bloodworth for so long hyped so much.

"Buddy" definitely not! We would say "chums" "chaps" or "gentleman" I'll have you know. Gosh "buddy" would never be a word uttered by a British gent ;)

Thanks for sharing this story - I totally missed it in the ISC furore. And I will miss some of the fellas if they're no longer around at shows. One must drop the chaps a message.

And wow is Everbridge aggressive...if they can make this all work together as Mr Vander Klock says below at the right point that would indeed be something.

I wonder if they still lack capabilities to do geo-targeted notifications as well as mass notification - that bit was missing for me. I will now go have a dig around their website...

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Everbridge has a suite of fantastic products that I would love to have. However, their pricepoint is above what I can justify. So we just stick with their mass notification piece!

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Founder Keith Bloodworth has stepped down as CEO and is now a consultant, per his LinkedIn:

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