SoundThinking, Inc. acquired SafePointe, LLC for $37.1 million.
August 21, 2023
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SoundThinking, Inc. (NasdaqCM:SSTI) acquired SafePointe, LLC on August 18, 2023. SafePointe will be accretive to SoundThinking's earnings per share by the end of 2024.
SoundThinking, Inc. (NasdaqCM:SSTI) completed the acquisition of SafePointe, LLC for $37.1 million on August 18, 2023. SoundThinking acquired 100% of the membership interests in SafePointe for purchase consideration of $11.4 million in cash, subject to working capital adjustments, of which $1.19 million is indemnification escrow cash, and $11.2 million in the form of 549,579 shares of the Company's common stock based on the closing price on the date of acquisition, of which $1.1 million is indemnification escrow stock. The purchase consideration also included a contingent earnout payable based on SafePointe?s revenues generated during 2023 through 2025. The acquisition date fair value of the contingent earnout was $3.0 million, resulting in a total purchase consideration of $25.6 million. Up to $11.5 million in earnout will be payable based on SafePointe?s revenues generated during the remainder of 2023 and during the years ended December 31, 2024 and 2025.
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.
SOUNDTHINKING, INC. 
