Taser Shares Spike Following Microsoft Partnership
According to a press release, "At the International Association of Chiefs of Police annual conference in Chicago... [This] partnership agreement will bring together the global scale, technology breadth, and security commitment of both companies through the combined capabilities of the Microsoft Azure's cloud platform, and Windows 10 devices with TASER's Axon Platform and Evidence.com solution."
The partnership "will provide a security-enhanced digital evidence management experience for law enforcement in an efficient and low-cost environment." The companies "will create an integrated approach to capturing and managing evidence including ingesting, retrieving, sharing, analyzing and archiving video, sensor and other data to support law enforcement and criminal justice officials as they work toward creating safer communities."
Taser shares recently traded at $23.79, up 6.3 percent.
The stock plummeted last week following an announcement from Motorola Solution Inc (NYSE: MSI) that the latter had entered the police body-cam space.
At the time, Oppenheimer's Andrew Uerkwitz told Benzinga he believes the market thinks Motorola will be used by the Chicago Police Department instead of Taser, which he said was the reason for Taser's sell-off.
Motorola Solutions shares were down about 0.7 percent at $70 on Monday morning.
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