Video surveillance product company Digital Ally, Inc. said it initiated a process to explore a “full range of strategic alternatives to best position the company for the future …”
It said those alternatives were ” … including, but not limited to, monetizing its patent portfolio and related patent infringement litigation against Axon Enterprise, Inc. and Enforcement Video, LLC d/b/a WatchGuard Video, the sale of the company as a whole, or the sale of select properties or groups of properties or individual businesses.”
Digital Ally said it has retained Roth Capital Partners LLC to assist in this process.
Digital Ally said: “The company has recently received several unsolicited inquiries from parties involving a variety of alternatives including, but not limited to, 1) seeking distribution and/or licensing rights to the company’s patented VuLink auto-activation technology, 2) seeking distribution and/or licensing rights to the company’s suite of patents other than the VuLink; 3) full sale of the company; and 4) partial sale of its law enforcement or commercial divisions.
“In addition, the company has recently entered into an exclusive distribution agreement with VieVU, LLC regarding the company’s patented VuLink product line.
“The company believes the unsolicited inquiries are being driven by the recent and important wins it received in the U.S. Patent Office that confirm the validity of our VuLink and related auto-activation technologies.
“Digital’s board of directors and management engaged Roth to ensure that the company and its shareholders consider all reasonable alternatives to maximize shareholder value, given the multiple inquiries.”