Knightscope Acquires CASE Emergency Systems To Expand Into Safety Communications Market - Knightscope (NASDAQ:KSCP)

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.