June 29, 2003
TASER® International, Inc. Acquires Assets of Taser Technologies, Inc.
For Immediate Release
Scottsdale-based Taser International Inc. has acquired all significant assets owned by Newport Beach, Calif.-based Taser Technologies Inc. and Electronic Medical Research Laboratories, dba Tasertron, Taser International officials said Monday.
Upon completion of this transaction Tasertron will cease as a manufacturer and supplier of less-lethal weapons, including Taser brand-related technologies.
"This acquisition is an important step for Taser International Inc. by providing clear and uncontested ownership of the Taser trademark, which is the most well-known brand in less-lethal weapons as well as consolidating our position as the undisputed market leader for Electro Muscular Disruption (EMD) less-lethal weapons," said Rick Smith, chief executive of Taser International.
Smith added that the purchase, terms of which were not disclosed, expanded the company's intellectual property portfolio with the addition of six patents and two patent-pending applications in the field of less-lethal energy weapons. The additions, Smith said, include Taser brand less-lethal anti-personnel munitions for the U.S. military and dual-laser sighting device for Taser-brand EMD stun weapons.
"These patents have the potential for incremental revenue opportunities that could further enhance our future revenue growth," said Smith.
The purchase agreement also includes access to Tasertron's customer lists and ends a lawsuit between Taser International and Tasertron, officials said.
About TASER International, Inc.
TASER International, Inc. (NASDAQ: TASR) provides advanced less-lethal weapons for use in the law enforcement, private security and personal defense markets. Our flagship ADVANCED TASER® product has reduced officer injuries by over 80% in the Orange County (FL) Sheriff's Office, and reduced suspect injuries by over 72% in the Phoenix (AZ) Police Department. The ADVANCED TASER is saving lives, reducing liability and creating safer jobs in over 2,250 law enforcement agencies worldwide. Call 800-978-2737 or visit our website at www.TASER.com to learn more about the new standard in less-lethal weapons.
For further information contact Steve Tuttle, Director of Government Affairs at Steve@TASER.com or call 800-978-2737 ext. 2006 or visit Taser's Web Site.
TASER International, Inc.