Rancho Bernardo-based LRAD Corp. said on Jan. 19 that it acquired software maker Genasys Holding S.L. of Madrid, Spain, for $2.32 million.
In addition, LRAD will assume $1.47 million worth of debt, making the total deal worth $3.79 million.
Genasys specializes in advanced location-based mass messaging solutions. One of its products is for emergency warnings. Another is for workforce management.
LRAD (Nasdaq: LRAD) produces mass-notification systems as well as electronics that can deliver a highly intelligible, very focused beam of sound over as many as 3 miles.
“The acquisition of Genasys enables LRAD to significantly enhance its advanced mass notification capabilities and pursue broader geolocation-based mass messaging projects and services,” said LRAD CEO Richard Danforth.
“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.”
Genasys brings an international technical sales, service and support team to LRAD.