Transom Capital Group to Acquire SoundThinking for $114 Million
Private equity firm Transom Capital Group has agreed to take public-safety technology company SoundThinking private in a deal valued at approximately $114 million.
Transom Capital Group will acquire SoundThinking in an all-cash transaction, the companies announced Tuesday. The deal values SoundThinking at an initial $114 million, which could increase based on certain conditions.
The agreement grants Transom Capital Group the right to purchase all outstanding shares of SoundThinking's common stock for $5.75 per share. This represents a premium of approximately 15.3% over the company's closing stock price on May 16, 2024, the last trading day before the announcement.
SoundThinking, formerly known as Shooter Detection Systems, specializes in gunshot detection and other public safety technologies. The company provides solutions aimed at enhancing safety and response times in various environments. Transom Capital Group is a private equity firm that focuses on acquiring and growing companies in the technology and services sectors.