Knowmadics is pleased to announce that we have entered into a definitive agreement to be acquired by WaveDancer, Inc. (NASDAQ: WAVD).
WaveDancer is a provider of zero trust security solutions, specializing in secure supply chain management, as well as cutting edge IT network and data security. Their enterprise blockchain and encryption algorithm technology is in production at the vanguard of critical government requirements. Through the acquisition of Knowmadics, WaveDancer extends its software to include devices and enterprise systems, enabling them to uniquely provide end-to-end security solutions that support data, devices, and transactions in a single unified platform.
Jamie Benoit, CEO of WaveDancer said, “We are passionate about providing industry leading, comprehensive device and data security solutions for government and commercial clients. The acquisition of Knowmadics builds on our recent acquisition and partnership activity and will expand and complement the WaveDancer offering—beyond our current client base. The timing is perfect for this acquisition given the increased threat of state-sponsored cyber attacks against US commercial and government critical infrastructure.”
Knowmadics is a leading Internet of Things (IoT) remote device management and monitoring platform which provides an innovative, configurable approach to connect, locate, and secure thousands of IoT and Operational Technology (OT) devices to a single management tool. Upon consummation of the transaction, the addition of Knowmadics will expand and solidify WaveDancer’s customer base with the U.S. Government and Fortune 500 companies.
Mr. Benoit added, “With this announcement investors now see what they are getting: a quantum leap forward in our ability to help government and commercial customers secure and manage the enterprise in this new age of global unrest. I’m excited about the significant shareholder value the new WaveDancer platform can deliver.”
“After seeing the transformation that’s been underway at WaveDancer over the last year, and getting to know Jamie and the team, I am delighted about this merger. We’ve been approached many times over the years, but nobody felt right until now. From a mission focus, culture, and product offering perspective, our two organizations are wholly aligned. I’m eager to work together and be a key part of the continued evolution of WaveDancer into a global zero trust cybersecurity leader,” said Paul Maguire, CEO and Co-Founder of Knowmadics.
Claire Ostrum, President and Co-Founder of Knowmadics stated, “Over the past few years we’ve successfully transformed our business to a leading SaaS IoT platform. We are incredibly proud of what we have achieved and the position we are in to meet the needs of government and commercial clients. As part of WaveDancer, we will have the resources to lead the IoT security markets today, tomorrow and well into the future.”
Upon close, Knowmadics will become a wholly owned subsidiary of WaveDancer. The acquisition is expected to close in the second quarter, subject to customary closing conditions, including the receipt of WaveDancer shareholder approval and regulatory approvals.
