SPRINGFIELD, Mass., January 12, 2018 — American Outdoor Brands Corporation (NASDAQ Global Select: AOBC), one of the world’s leading providers of firearms and quality products for the shooting, hunting, and rugged outdoor enthusiast, today announced that its Electro-Optics Division, Crimson Trace Corp., has completed the purchase of substantially all of the assets of LaserLyte, a provider of laser training and sighting products for the consumer market.
Lane Tobiassen, President of the Electro-Optics Division and Crimson Trace Corp., said, “We are excited to add the LaserLyte brand and product lines to our existing lineup of Crimson Trace laser sights, tactical lights, and optics. LaserLyte is well-known among consumers for its innovative laser training and sighting products, which cover a range of applications including non-live fire firearms training, sighting in rifle scopes and optics, and entertainment. LaserLyte’s firearm training systems, laser sights and bore sights complement our existing offering, enabling us to reach broader segments of the consumer electro-optics addressable market. LaserLyte products fit well within our existing distribution network, and with the support of our product development and sourcing teams, we believe the additional brand and product lines provide us with growth and expansion opportunities for the Electro-Optics Division.”
Crimson Trace completed the acquisition of LaserLyte assets, consisting largely of inventory and intellectual property, utilizing cash on hand. Inventory related to the acquisition will be transferred to the Crimson Trace facility in Wilsonville, Oregon, where LaserLyte operations will be assumed by existing product development, sourcing, assembly, and sales and marketing teams.