Chief Jeff Halstead (Ret.)
As a leading cross-agency collaboration platform within the public safety sector, you may wonder why Evertel would join forces with Genasys, a publicly traded company specializing in protective communications.
The answer is simple and straightforward—we have a deep belief in our product and want to offer it to as many public agencies as possible. With Genasys, our communication and collaboration platform dovetails seamlessly with the Genasys Protect Suite, creating a comprehensive solution, Genasys Protect CONNECT (formerly known as Evertel), for public agencies and enterprise clients. It also expands our reach to vast new opportunities and potential customers.
What’s Gained by Folding into a Larger, Customer-Focused Company?
An acquisition in the technology sector can be a strategic move for a business seeking to enhance its competitive edge. In the rapidly evolving tech landscape, a company can position itself for great success with a partner that complements or offers several key advantages. In terms of being acquired by Genasys, there were a number of potential benefits:
Improve the Customer Experience and Offerings
Partnering with a company that is customer-focused is one of the most rewarding outcomes of an acquisition. Customers come first when considering a partnership, and if the acquiring company has the same customer philosophy, it’s a natural fit for corporate culture and values.
Access to More Resources
Larger companies often have more substantial financial resources, which can be directed toward research and development, marketing, and expanding the workforce. This leads to improved product development and an extended portfolio of features from one provider. Genasys Protect CONNECT (formerly known as Evertel) will greatly benefit in this regard.
Economies of Scale
Being part of a larger entity can lead to economies of scale, reducing costs per unit, and allowing any business to operate more efficiently.
Increased Credibility and Brand Recognition
An association with a well-known and established company can enhance a business’s credibility in the marketplace, potentially attracting more customers and a varied mix of partners.
Expertise and Experience
A large company, like Genasys, can bring in-depth industry knowledge, management expertise, and a skilled workforce, which can be invaluable in navigating market challenges and seizing opportunities.
Enhanced R&D Capabilities
With more resources, the technology business can invest more in research and development, leading to innovation and the development of new products or services. Genasys Protect CONNECT (formerly known as Evertel) is part of the Genasys Protect suite and I expect to see tighter integration between the solutions.
Risk Mitigation
By being part of a larger organization, a company gains a safety net and reduces the risk of failure, since the larger company may be better equipped to handle market fluctuations and financial challenges.
Integration of Complementary Technologies
If the acquiring company has complementary technologies or services, the acquisition can lead to the integration of these assets, creating more comprehensive and competitive offerings. In the case of Genasys Protect Suite and Evertel, the products were highly complementary and allowed the partnership to form a more comprehensive suite of products.
To Sum Up
Any time a business owner considers selling their hard-fought product or business, careful consideration and strategic planning are crucial. With Genasys, we found an amazing partner that provided a welcome opportunity for growth and expansion in all of the areas highlighted above.
