Genasys signs definitive agreement to acquire Evertel for ~$5.8M in cash/stock

Genasys Inc.

Total consideration of $5.8 million, ~75% stock and ~25% cash, subject to customary adjustments.
Transaction expected to close first week of October 2023; cash portion funded from cash on hand.
Evertel provides a secure mission-critical collaboration platform for public safety agencies.
Genasys will offer employment to certain Evertel employees upon closing.
Acquisition expands Genasys' protective communications ecosystem with real-time inter-agency collaboration.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Genasys Inc. entered into Membership Interest Purchase Agreement with Word Systems Operations, LLC valued at approximately $5.8 million (effective 2023-09-20).

Action: entry
Agreement: asset purchase
Counterparty: Word Systems Operations, LLC
Value: approximately $5.8 million
Effective: 2023-09-20

Exact text from the filing

On September 20, 2023, Genasys Inc., a Delaware corporation (the “Company”), Word Systems Operations, LLC, an Indiana limited liability company (“Seller”), and Evertel Technologies, LLC, a Nevada limited liability company (“Evertel”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”), pursuant to which the Company agreed, upon the terms and subject to the conditions of the Purchase Agreement, to purchaser all of the Seller’s right, title and interest in, to and under all of the membership interests of Evertel

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Genasys Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-026784

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