ShotSpotter, Inc. (NasdaqCM:SSTI) acquired Forensic Logic, Inc. on January 1, 2022. Under the terms of the transaction, ShotSpotter, Inc. paid $5 million in cash, subject to working capital adjustments, 464,540 shares amounts of $15 million in common stock of ShotSpotter, Inc. and additional contingent consideration. The contingent consideration is an earnout agreement for 2022 and 2023. Up to 9.5 million in contingent earnout will be payable based on Forensic Logic's revenues generated during 2022. An additional amount up to $10.5 million contingent earnout will be payable based on Forensic Logic's revenues during 2023. The amounts will be determined and paid within approximately 90 days after the end of 2022 and 2023, respectively.
ShotSpotter, Inc. (NasdaqCM:SSTI) completed the acquisition of Forensic Logic, Inc. for $36.2 million on January 1, 2022. As per the filling on November 9, 2022, ShotSpotter paid $4.9 million in cash, 464,540 shares of ShotSpotter common stock and contingent consideration of up to $9.5 million. An additional amount of $10.5 million contingent consideration may be payable based on Forensic Logic's revenues generated during 2023.
SoundThinking, Inc. is a public safety technology company that delivers artificial intelligence (AI) and data-driven solutions for law enforcement, civic leadership and security professionals. The Companyâs SafetySmart platform includes ShotSpotter, the acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; ResourceRouter, software that directs patrol and community anti-violence resources to help maximize their impact; and SafePointe, an AI-based weapons detection system. ShotSpotter, its acoustic gunshot detection technology serves cities and municipalities seeking to identify, locate and deter persistent, localized gun violence by incorporating a real-time gunshot detection system into their policing systems. CrimeTracer is a law enforcement search engine and information platform that enables law enforcement to search data from agencies across the United States using natural language speech terms and concepts.
