Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, May 17, 2024

Article Excerpt

AXON ENTERPRISE INC., $288.79, symbol AXON on Nasdaq, is best known for its Taser line of non-lethal weapons for law enforcement and consumers. The law enforcement technology company also sells body cameras, in-car cameras, software and drones. The company has two operating segments: Taser (39% of revenue) and Software & Sensors (61%). The software unit includes a cloud-based digital evidence management platform—for assets including video from Axon body cameras. Axon’s customers include first responders at the international, federal, state and local law enforcement level, fire departments, correctional facilities and the justice sector, in addition to commercial clients. On May 6, 2024, Axon announced that it would acquire Dedrone, a provider of airspace security technology. Dedrone’s drones are used for security purposes by federal governments, utilities and critical infrastructure, event venues, airports, correctional facilities, and other enterprises. Dedrone’s primary product, Dedrone Tracker, provided security for the 2022 FIFA World Cup in Qatar, protecting 900 square kilometers of airspace and 44 key sites. It has also worked…