Everbridge Makes $33.6M Offer for Norway’s Unified Messaging Systems
Monday, March 05, 2018 | Comments

Everbridge Holdings announced a voluntary cash offer to acquire the entire issued share capital of Unified Messaging Systems (UMS), a Norwegian company. The offer values the total share capital of UMS at about $33.6 million.

This excludes the value of shares issuable upon exercise of existing outstanding options. The offer price represents a 44.8 percent premium to UMS' closing share price on 13 February. The board of directors of UMS recommended that the shareholders accept the offer.

The offer period starts 2 March and expires 16 March, subject to any extension. Everbridge has obtained pre-acceptances representing about 68.2 percent of UMS' issued share capital. In addition, Everbridge entered into conditional purchase agreements with holders of 2.285 million share options, whereby Everbridge will purchase these options at a price equal to the difference between the offer price and the exercise price for the share options, subject to closing of the offer.

UMS has more than 1,200 customers worldwide reaching more than 500 million people with its systems for public notifications. 

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