Knightscope Acquires CASE Emergency Systems To Expand Into Safety Communications Market

  • Autonomous security robots developer Knightscope Inc KSCP has signed a definitive agreement to acquire CASE Emergency Systems (CASE).
  • CASE is a provider of communications and safety technologies.
  • The acquisition is expected to provide Knightscope with a strategic entry into a nationwide market and boost its revenues while increasing its impact on the safety of communities nationwide.
  • It also provides a push to Knightscope’s physical presence with over 7,000 devices currently deployed across the United States, 9 production and logistics facilities spread throughout California, Texas, and New York.
  • CASE’s clientele includes airports, law enforcement agencies, universities, municipalities, rail, healthcare, parks, and the U.S. Federal Government will boost Knightscope’s autonomous security robot business.
  • The transaction is expected to be completed in October.
  • CASE generated over $5.4 million of profitable revenue in 2021.
  • Sebastian E. Gutierrez, founder, president, and CEO of CASE, will join Knightscope as Senior Vice President of Public Safety Infrastructure Development as part of the deal.
  • Knightscope has entered into convertible notes offering with an accredited investor, generating cash proceeds to fund a majority of the acquisition.
  • The company held $15.6 million in cash and equivalents as of June 30, 2022.
  • Price Action: KSCP shares traded higher by 5.65% at $2.62 on the last check Tuesday.
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