SoundThinking Acquires Intelligent Weapons Detection Provider, SafePointe; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
SoundThinking, Inc. (NASDAQ:SSTI) has acquired SafePointe, LLC, a provider of intelligent weapons detection technology. The acquisition allows SoundThinking to enter the $20 billion global weapons detection market and extends its SafetySmart™ platform with a proven weapons detection solution. SafePointe's technology has been used in various high-traffic environments such as workplaces, museums, schools, casinos, financial institutions, and hospitals. The acquisition is expected to be accretive to SoundThinking's earnings per share by the end of 2024.
August 22, 2023 | 12:38 pm
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POSITIVE IMPACT
SoundThinking's acquisition of SafePointe allows it to enter the $20 billion global weapons detection market and extends its product offerings. The deal is expected to be accretive to its earnings per share by the end of 2024.
The acquisition of SafePointe allows SoundThinking to enter a new market and extend its product offerings, which could lead to increased revenues and earnings. This is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
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