Wrap Technologies (NASDAQ: WRAP), an innovator of modern policing solutions, has closed an asset purchase agreement with NSENA Inc. NSENA is a developer and provider of a law-enforcement training platform that uses immersive virtual reality computer graphics along with proprietary software, hardware and content. NSENA’s content library contains 47 training modules and is one of the largest such resources available that focuses on law enforcement. The company develops training modules that cover a wide array of skills and scenarios applicable to law-enforcement officers; modules include topics such as de-escalation, conflict resolution and all levels of use-of-force. NSENA also has a strong pipeline of prospective customers, contractors and licensees. According to the agreement, the VR business will be rebranded as WRAP Reality(TM). WRAP will host a live webinar today (Wednesday, Dec. 16) at 5 p.m. ET to discuss NSENA and its VR platform. “This acquisition firmly positions WRAP in the multi-hundred-billion-dollar virtual reality training market and also complements our BolaWrap law enforcement training solution being delivered by our master instructors and WRAP Training Academy,” said WRAP president and interim CEO Tom Smith in the press release. “We are excited to work with the NSENA team to add new features and capabilities to our VR offering, expand our sales team and grow the VR platform and BolaWrap revenues. With our previously announced relationship with the National Tactical Officers Association (‘NTOA’), we plan to offer a fully-integrated training and training record management solution targeting agencies of all sizes that until now have limited choices to meet the ever-growing public safety training demands.”
To register for the webinar, visit https://ibn.fm/DR2m6
To view the full press release, visit https://ibn.fm/Jllkh
About Wrap Technologies Inc.
WRAP is an innovator of modern policing solutions. The company’s BolaWrap 100 product is a patented, hand-held remote restraint device that discharges an eight-foot bola style Kevlar(R) tether to restrain an individual at a distance from 10 to 25 feet. Developed by award-winning inventor Elwood Norris, the company’s chief technology officer, the small but powerful BolaWrap 100 assists law enforcement in safely and effectively deescalating encounters, especially those involving an individual in crisis. BolaWrap 100 has already been used to safely apprehend suspects without injury in a number of cities including Los Angeles, Sacramento, Fresno, Bell, Albuquerque, Minneapolis, West Palm Beach, Fort Worth and Oak Ridge. For more information about the company, please visit www.WRAP.com.
NOTE TO INVESTORS: The latest news and updates relating to WRAP are available in the company’s newsroom at https://ibn.fm/WRAP
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