Mentioned:
The New York Police Department is looking to leverage leading edge technology to deal with shootings. And they’re partnering up with a publicly traded company to do it.
What’s happening:
- SoundThinking (NASDAQ: SSTI) has struck a new deal with the New York Police Department for their ShotSpotter gunshot detection system
By the numbers:
- The new deal is worth $21.8M USD
- SoundThinking is required to maintain a 90% accuracy rating for gunfire detection in order to maintain the new deal
Why it matters:
- ShotSpotter is one of the most advanced systems for rapidly detecting gunshots and is capable of alerting police officers with a precise location within seconds of a shooting occurring
Going deeper:
- SoundThinking’s ShotSpotter technology has been getting adopted by police forces all across America lately, including the Chicago Police Department, the San Francisco Police Department and others
Market reaction:
- Shares of SoundThinking were up +13% following the announcement
