Everbridge broadens its PSIM offerings with acquisition of CNL Software
According to its recent 10-K filing with the Securities and Exchange Commission, Everbridge has acquired PSIM software developer CNL Software and Connexient, a provider of wayfinding and patient engagement solutions for the healthcare market, for a consideration of $35.7 million and $20.5 million respectively.
In its filing, Everbridge, which provides enterprise safety and critical event management (CEM) software to more than 5,000 customers around the globe, said that it acquired the companies for their “strategic technology assets to enhance our CEM suite of solutions to broaden support for IoT applications.”
According to Daphne Tomlinson, Senior Research Associate at market research firm Memoori, the “tuck-in acquisition” of Connexient, whose MediNav wayfinding solution provides turn-by-turn indoor navigation, voice prompts, off-route notifications, and visual landmark references, will bolster Everbridge’s healthcare portfolio.
“Memoori believes that verticalized startups with deep insight into niche applications such as indoor mapping in specific building types, can play a major role in BIoT,” Tomlinson wrote in an article about the acquisitions. “The use of IPS technology for navigation and wayfinding around large commercial buildings, is growing, as user experience becomes paramount.”
With regards to the CNL acquisition, Tomlinson said that CNL would broaden Everbridge’s PSIM offerings, which were previously bolstered by its purchase of IDV in January 2017, as well as boost its long-term strategy to expand outside the U.S.
“With increased risk of terrorist activities and incidents both in the workplace and in public places, businesses need effective platforms to notify personnel in their facilities as to what is happening, where it is happening and how to respond in an emergency situation or critical event,” wrote Tomlinson.
