SHOTSPOTTER EXPANDS VERIZON PARTNERSHIP WITH RESELLER AGREEMENT FOR GUNSHOT DETECTION SERVICES
Verizon Will Offer ShotSpotter Flex within Smart Communities Suite of Solutions
NEWARK, Calif. – August 28, 2018 – ShotSpotter, Inc. (Nasdaq: SSTI), the leader in gunshot detection solutions that help law enforcement officials identify, locate and deter gun violence, today announced that Verizon Communications Inc. (NYSE, Nasdaq: VZ) has expanded its partnership to include reselling ShotSpotter Flex, the company’s flagship gunshot detection solution, as a stand-alone offering to its customers. ShotSpotter, used by more than 90 cities to help fight gun crime, expects to benefit from the scale and distribution Verizon offers.
“We believe adding the leadership, reach and influence of Verizon as a ShotSpotter reseller will be a force multiplier for our business, allowing us to access and serve more cities across the country,” said Ralph Clark, President and CEO of ShotSpotter. “Verizon’s large and experienced sales teams have longstanding relationships with many municipalities, so it’s a natural fit.”
“We expect the addition of ShotSpotter Flex within our Smart Communities suite of solutions, including public safety and traffic management, will be a clear value-add for cities, and we are excited to include this offering to our customers,” said Mrinalini Ingram, VP of Smart Communities for Verizon.
Earlier this year, ShotSpotter announced an agreement with Verizon to bring the ShotSpotter solution to cities across the country by leveraging Verizon’s Light Sensory Network, an IoT platform deployed on street lights.
ShotSpotter Flex helps law enforcement agencies by quickly directing police to the location of gunfire incidents. The SaaS-based system sends alerts within 60 seconds of gunshot detection to dispatch centers and to patrol officers on their mobile computers and smartphones. The alerts improve response times to crime scenes to better aid victims and identify witnesses, as well as help police locate key evidence to identify and prosecute suspects.
About ShotSpotter, Inc.
ShotSpotter (NASDAQ: SSTI) is the leader in gunfire detection, location and incident-specific forensic analysis solutions that assist police and security personnel in their efforts to deter gun violence. ShotSpotter solutions are trusted by more than 90 cities to help make their communities, campuses and facilities safer.
Safe Harbor Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the company’s anticipated benefit from the Verizon reseller agreement. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the company’s control. The company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the failure to achieve the anticipated benefits and scale from the Verizon reseller agreement, the company’s ability to maintain and increase sales; the availability of funding for the company’s customers to purchase the company’s solutions; the complexity, expense and time associated with contracting with government entities; the company’s ability to maintain and expand coverage of existing public safety customer accounts and further penetrate the public safety market; the company’s ability to sell its solutions into new markets; the lengthy sales cycle for the company’s solutions; changes in federal funding available to support local law enforcement; the company’s ability to deploy and deliver its solutions; and the company’s ability to maintain and enhance its brand, as well as other risk factors included including the company’s most recent quarterly report on Form 10-Q and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
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