LRAD Acquires Genasys, Location-Based Mass Messaging Provider

LRAD Corporation,Two-Time 2017 ‘ASTORS’ Homeland Security Award Winner for Best Long Range Acoustic Hailing System & Best Mass Notification/Siren System, has acquired Genasys, a leading software provider of advanced location-based mass messaging solutions for emergency warning systems and workforce management.

Genasys, which is headquartered in Spain, has an experienced group of developers with over 200 man years of software development and a strong, international technical sales, service, and support team.

Genasys currently has two main product offerings: NEWS and HAZ

NEWS – a reliable solution for sending SMS-based warnings of public safety hazards to affected populations with industry-leading speed.

With NEWS, emergency agencies improve public safety by providing potentially lifesaving information to individuals in harm’s way.

HAZ– a low cost, easy-to-use solution for remotely monitoring employees, planning tasks, and managing workplace incidents.

“Many of the mass notification opportunities we target, including universities, cities, and countries, require an integrated location-based mass messaging service.”

“With this acquisition, LRAD expects to generate revenue on initial installations and recurring revenue from long-term support contracts for updating and maintaining the messaging service over the life of the installations.”

“I am eager to leverage LRAD’s worldwide sales channels to seek accelerated growth of the Genasys mass notification software solutions,” said Pablo Colom, Genasys’ Chief Executive Officer.

“Genasys has a solid track record of location-based mass messaging integrations and deployments, which include solutions for small workgroups to fully integrated country-wide systems.”

“The synergies of Genasys’ push notification products and LRAD’s award-winning mass notification systems will provide state-of-the-art solutions to communicate potentially lifesaving information to those affected by severe weather, man-made and natural disasters and other emergencies.”

Revenues for Genasys in calendar 2017 (unaudited) were €1.9 million. Total consideration for the acquisition is €3.1 million, which includes a €1.9 million purchase price and the assumption of €1.2 million of debt.

The 2017 ‘ASTORS’ Homeland Security Awards Presentation Luncheon

Recognized for their Innovative Training and Education Programs, Outstanding Product Development Achievements and Exciting New Technologies to address the growing Homeland Security Threats our Nation is facing.

American Security Today was formed after careful reflection of 9/11 and its aftermath when the Department of Homeland Security was established and there was an immediate explosion of new products and solutions for what was perceived as an imminent second attack on primary targets in the United States.

As time moved forward from 9/11 itself and in recent years, the threats to our nation have evolved from a large scale 9/11 type attack to:

• Domestic and International Terrorist Attacks carried out by ‘lone wolves’ and coordinated individuals
• Cybersecurity breach attacks against our government agencies, financial institutions and critical infrastructure facilities
• Unprecedented urban violence
• Cultural shifts and societal media bias, which make it increasingly difficult to secure our nation in this constantly evolving threat environment.

These current circumstances have put forward another rapid expansion of new ideas, products and solutions to combat these ever changing challenges.

These changes have called for a new generation of security experts in the Homeland Security and Public Safety fields who need real time knowledge of our ever growing threats.

These experts include the Government at the Federal, State and Local levels as well as from Private Firms specializing in Physical Security, Port Security, Law Enforcement, First Responders, Military and Private Security responsible for implementing coordinated security measures to ensure our Nation’s Security and improve Public Safety.

Together, each of these entities work together seamlessly on the front lines of protecting our communities, to ‘Keep our Nation Secure, One City at a Time.’

AST focuses on Homeland Security and Public Safety Breaking News, the Newest Initiatives and Hottest Technologies in Physical & IT Security, essential to meeting today’s growing security challenges.

To highlight the tremendous accomplishments of agencies and firms receiving this prestigious award, check out American Security Today’s 2017 December ‘ASTORS’ Champions Edition – ‘Year in Review.’

LRAD management will host a conference call to discuss the Genasys acquisition on Monday, January 22, 2018, at 12:00 pm U.S. EST. To access the conference call, dial toll-free 888.567.1602 from the U.S., or international at +1.404.267.0373.

A webcast will also be available at the following link:https://www.webcaster4.com/Webcast/Page/1375/24207. A replay of the call will be available approximately four hours after the call concludes, and remain available for 90 days at the aforementioned webcast link.

Questions to management may be submitted before or during the call by emailing them to investor@lrad.com.

LRAD systems are in service in more than 70 countries around the world in diverse applications including mass notification and public address, fixed and mobile defense deployments, homeland, border, critical infrastructure, maritime, oil & gas, and port security, public safety, law enforcement and emergency responder communications, asset protection, and wildlife control and preservation.