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WaveDancer Announces Definitive Agreement to Acquire Knowmadics

Tags: #IOT #Security #software

FAIRFAX, VA, March 22, 2022 – WaveDancer, Inc. (NASDAQ: WAVD) announced a definitive agreement to acquire Knowmadics, Inc. a Software as a Service (“SaaS”) platform company headquartered in Herndon, VA. The Knowmadics acquisition continues the company’s transformation into a leading provider of Strategic and Tactical Internet of Things cybersecurity and Blockchain enabled software solutions.

The purchase price of $90 million comprises approximately $56.5 million in cash and $33.5 million of stock at a price of $6.50 per share a premium on the company share price as of March 21, 2022. WaveDancer intends to raise approximately $67 million in a private offering of its common shares in connection with the transaction.  The closing is contingent upon financing. Upon closing, the company expects revenues from its emerging technology business to be greater than its legacy Tellenger business.

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. WaveDancer’s technology brings all transactions, documentation, authorizations – every aspect of a process – together in one web-based interface that provides an unprecedented level of accountability, auditability, and predictability. WaveDancer’s enterprise blockchain and encryption algorithm technology is in production at the vanguard of critical government requirements.  Read more from the official press release here.