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Knightscope (NASDAQ: KSCP) Enters Into Strategic Partnership with Allied Universal

by admin

February 14, 2022

in Technology

Knightscope NASDAQ KSCP Allied Universal Partnership Spotlight Growth

Knightscope, Inc. (NASDAQ: KSCP) operates as an advanced security technology company, which builds, tests, and deploys fully-autonomous security robots to help deter, detect and report unwanted or illegal activities. Shares of the security robotics company are jumping 43% through afternoon trading on Monday, February 14, 2022. Since its initial public offering on January 23, 2022, Knightscope has seen average daily volume of around 10.55 million shares. However, volume of 50.44 million shares or dollar volume of around $456.99 million, has already exchanged hands through afternoon trading.

Shares of Knightscope are rallying after the company announced that it has entered into a strategic partnership with Allied Universal, a global security and facility services leader that boasts annual revenues of ~$20 billion and an employee headcount of over 800,000 people. Under the terms of the partnership, the technology services division of Allied Universal will offer Knightscope’s autonomous security technology across the United States.

Allied Universal will immediately begin offering the company’s K5 Outdoor, K3 Indoor, and K1 Stationary ASRs (the Knightscope Security Operations Center (KSOC)). In addition to the different product models, Allied Universal Technology Services will provide auto charging & docking stations, data storage solutions, as well as full support, service, and maintenance.

Combining Allied Universal’s strong staff of highly-trained security professional with Knightscope’s autonomous security technology aims to reduce monetary and non-monetary costs for its client base.

“Partnering with Allied Universal is a perfect recipe for success – robots are deployed to do the monotonous, computational heavy work while the strategic, hands-on activities are the responsibility of the humans. We are excited for the future that this agreement will bring in driving steady long-term growth,” said William Santana Li, Chairman and CEO of Knightscope.

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/