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-- ShotSpotter will acquire the operating assets, technology, and customer
list of QNA/PSI SECURES(R) product business. SECURES(R) is an acoustic
gunshot detection system that provides localization of gunfire for
response by law enforcement and other first responders;
-- ShotSpotter will become the exclusive licensee within the public safety
and law enforcement markets of the patent portfolio underlying the
SECURES(R) product line; and
-- The two companies will seek opportunities to jointly offer capabilities
and solutions to the global military and defense markets.
Financial terms of the agreement were not disclosed.
"This transaction marks an important milestone for both ShotSpotter and QNA. It extends ShotSpotter's reach into key customer markets and broadens our ability to provide the most holistic and proven approach to detecting, fighting and preventing illegal gunfire in a variety of settings. By adding the SECURES product line to our offerings we also bring to our company an important new strategic partner - QNA," said James G. Beldock, President and CEO of ShotSpotter.
Today, 35 U.S. municipalities and counties across the United States have deployed ShotSpotter's Gunshot Location System (GLS) in some of the country's highest crime areas. Customers who use ShotSpotter's technology report a reduction in violent crime by at least 30 percent and lower gunfire rates by as much as 60 to 80 percent. SECURES systems have similarly been successfully deployed across the country. The two products are the only such systems to have been formally evaluated by the National Institute of Justice.
There will be no change for existing SECURES(R) customers regarding both maintenance and opportunities to expand their installations. ShotSpotter is also investigating the benefits of integrating SECURES and ShotSpotter sensor technologies in individual deployments to best match the technologies to individual customer needs. Cost and design of integrated offerings for existing customers have yet to be finalized or announced.
"ShotSpotter's acquisition of the SECURES product line will allow them to offer a broader solution set to solve the diverse needs of different municipalities," said Dr. Alan J. Friedman, President of PSI. "We look forward to working with ShotSpotter as an important new partner in bringing our patented technology to a wider market."
About ShotSpotter, Inc.
ShotSpotter, Inc. is the leading developer of mission-essential acoustic surveillance systems. Its flagship product, the ShotSpotter Gunshot Location System(R) (GLS), has pioneered the use of wide-area acoustic surveillance coupled with audio analytics for public safety, homeland security, and military applications. For over a decade, our customers have relied on the ShotSpotter GLS to provide them with acoustic event awareness and accurate actionable intelligence to aid their development of proactive anti-crime strategies and operations. Currently, the ShotSpotter GLS protects many cities and counties nationwide, consistently producing arrests and weapons confiscations. Information about ShotSpotter can be found at www.shotspotter.com. For ongoing news, please go to http://www.shotspotter.com/news/index.html.
About QinetiQ North America
QinetiQ North America delivers world-class technology and responsive solutions to government agencies and commercial customers for many of their most urgent and complex challenges. QinetiQ North America is an independent, innovative technology provider that earns over a billion dollars in revenue operating with small company speed and agility while leveraging significant global resources. More than 6,000 QinetiQ North America engineers, scientists and other professionals have the mission knowledge and proven, reliable performance to meet the rapidly changing demands of national defense, homeland security and information assurance customers. For more information, please visit www.QinetiQ-NA.com.
For more information, please contact
Eileen Boyce
Reputation Partners
+1.312.222.9126
eileen@reputationpartners.com
Cynthia Black
QinetiQ North America
Technology Solutions Group
+ 1.781.684.4093
cblack@foster-miller.com
SOURCE ShotSpotter, Inc.
http://www.shotspotter.com
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