Consolidation of the alerting market-share leaders continues. Send Word Now/One Call Now has been purchased by Veritas Capital, the equity capital firm that owns Emergency Communications Network (CodeRed) and MIR3. The consolidated company is being rebranded as OnSolve. A spokesman says the new company is now the largest in the market with around $100 million in annual revenue.
The re-branded OnSolve (ECN/CodeRed/Send Word Now/MIR3) joins Everbridge as the big guys on the block. Everbridge's revenues amounted to $76.8 million in 2016. The company completed an initial public offering (IPO) in September 2016, then offered more shares in April of this year. Investors must like Everbridge. Its stock when it went public was at $12 per share and, at last check, was selling in the $24 range.
What does this mean for emergency management practitioners? It's hard to tell at this point, other than it reconfirms that investors are now onboard with emergency notification being an important market. That can't be bad for practitioners as more resources will presumably be available. While investors will undoubtedly expect nice returns, hopefully some of these resources will be used to help address some of the alerting issues that still gnaw at practitioners.