Genasys Signs Definitive Agreement to Acquire Evertel
27 9월 2023 - 6:01AM
Genasys Inc. (NASDAQ: GNSS), the global leader in protective
communications systems and solutions, today announced that it has
entered into a definitive agreement to acquire Evertel
Technologies, the leading cross-agency collaboration platform for
public safety. Genasys will be acquiring Evertel in a cash and
stock deal for a total consideration of $5.8 million.
“Combining the two solutions will revolutionize
inter and intra agency collaboration, adding a compliant, real-time
layer of communication and intelligence sharing between first
responders and emergency managers” said Richard Danforth, Chief
Executive Officer of Genasys Inc. “Planning, actioning and
optimizing every stage of emergency response before and during an
incident needs to be interoperable, trustworthy and
transparent.”
“At Evertel, we are revolutionizing how public safety agencies
collaborate” said Chief (Ret.) Jeff Halstead, President &
co-founder of Evertel. “Adding our mission-critical communication
solution to Genasys ProtectTM platform provides a powerful network
effect of knowledge sharing with neighboring agencies and
nonprofits to allocate resources, create a synchronized hub for
communications and reduce the risk of miscommunication or
delays.”
With the apparent rise in frequency, complexity and intensity of
natural and man-made disasters, the need for public safety agencies
to become much more collaborative through enhanced connectivity is
table stakes. The Company expects that consolidating tools to
provide more data and insights in real-time will aid in making
faster decision making and keeping constituents safe. Time is of
the essence during an emergency, Genasys Protect and Evertel are
designed to provide one source of truth and easy access to critical
information- creating a new era of collaboration.
Details on the Proposed TransactionUnder the
definitive agreement, Genasys has agreed to acquire Evertel, from
Word Systems Operations for approximately $5.8 million, comprised
of approximately 75 percent stock and 25 percent cash, subject to
customary adjustments. Genasys expects the cash consideration to be
financed through cash on hand. The transaction is expected to close
the first week of October.
About Genasys Inc.Genasys Inc. (NASDAQ: GNSS)
is the global leader in Protective Communications Solutions and
Systems, designed around one premise: ensuring organizations and
public safety agencies are “Ready when it matters™.” The company
provides the Genasys Protect platform, the most comprehensive
portfolio of preparedness, response, and analytics software and
systems, as well as Genasys Long Range Acoustic Devices (LRAD®)
that deliver directed, audible voice messages with intelligible
vocal clarity from close range to 5,500 meters. Genasys serves
state and local governmental agencies, and education (SLED);
enterprise organizations in critical sectors such as oil and gas,
utilities, manufacturing, and automotive; and federal governments
and the military. Genasys Protective Communications Solutions have
diverse applications, including emergency warning and mass
notification for public safety, critical event management for
enterprise companies, de-escalation for defense and law
enforcement, and automated detection of real-time threats like
active shooters and severe weather. Today Genasys protects over 70
million people globally and is used in more than 100 countries,
including more than 500 cities, counties, and states in the U.S.
For more information, visit genasys.com.
About Evertel
TechnologiesEvertel is a secure & compliant
mission-critical collaboration platform for the public safety
market that brings the right people, information, and tools
together in one space. Our intuitive platform helps agencies of all
sizes—small towns, big cities, and everything in between—to work
together more effectively to protect their communities and save
lives.
Forward-Looking StatementsExcept for historical
information contained herein, the matters discussed are
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
You should not place undue reliance on these statements. We base
these statements on particular assumptions that we have made in
light of our industry experience, the stage of product and market
development as well as our perception of historical trends, current
market conditions, current economic data, expected future
developments, and other factors that we believe are appropriate
under the circumstances. These statements involve risks and
uncertainties that could cause actual results to differ materially
from those suggested in the forward-looking statements. These
forward-looking statements are subject to a number of risks and
uncertainties, including without limitation the business impact of
epidemics or pandemics, geopolitical conflict, and other events
that may affect our supply chain, and other risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company’s control. Risks and uncertainties are
identified and discussed in our filings with the Securities and
Exchange Commission. These forward-looking statements are based on
information and management’s expectations as of the date hereof.
Future results may differ materially from our current expectations.
For more information regarding other potential risks and
uncertainties, see the “Risk Factors” section of the Company’s Form
10-K for the fiscal year ended September 30, 2022. Genasys Inc.
disclaims any intent or obligation to update those forward-looking
statements, except as otherwise specifically stated.
Investor Relations Contact
Brian Alger, CFA
SVP, IR and Corporate Development
ir@genasys.com
(858) 676-0582
Media Contact:
Anya Nelson
Scratch Marketing + Media for Genasys Inc.
genasyspr@scratchmm.com
Genasys (NASDAQ:GNSS)
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