Market Overview

TASER Acquires MediaSolv Solutions For $13 Million

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TASER International, Inc. (NASDAQ: TASR) on Tuesday announced in a press release it has signed a definitive agreement to acquire MediaSolv Solutions Corp., a leading solution for interview room video, CCTV, in-car and on premises digital evidence management.

The company stated the acquisition will be complemented with its Axon and EVIDENCE.com platform, further enabling law enforcement to "unify existing silos of digital media and evidence into a seamless workflow from capture to the courtroom."

"Jim [Weaver, President and CEO of MediaSolv] and the MediaSolv team have built something greatly admired by their customers," said Rick Smith, CEO and Founder of TASER. "Together, we will accelerate our efforts to deliver the leading solution for end-to-end digital evidence management for law enforcement. Our shared customer passion underscores our commitment and we're looking forward to welcoming the MediaSolv team to TASER."

Weaver echoed similar comments, stating that "we're excited to join the Taser team so we can partner together to solve the challenges agencies face when managing their digital evidence."

Taser will finance the acquisition with $8 million of cash at close, with up to $5 million of earn-outs for shareholders, employees, employee retention and relocation payments, placing the total price tag on the deal at $13 million.

Taser will host a conference call on Wednesday at 11:30 a.m. EDT to discuss the acquisition. Users can join the call by dialing 877-303-9126 and use the pass code 42301895.

Shares of Taser were trading higher by 0.77 percent at $33.70 just before Tuesday's opening bell.

Posted-In: EVIDENCE.com Jim Weaver law enforcement MediaSolv Solutions Corp Rick Smith TASERM&A News

 

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