Scottsdale-based Axon Enterprise Inc., the company that makes Tasers and other safety technology for law enforcement agencies, has acquired a virtual reality studio that specializes in immersive training modules for large organizations.
Axon (Nasdaq: AXON) said its acquisition of Atlanta-based Foundry 45 will help it achieve its goal to use new immersive technologies such as virtual reality, or VR, and augmented reality to prepare law enforcement officers for real-life situations in the field — and to make such training more accessible and affordable.
“We’re thrilled the Foundry 45 team has joined Axon in our mission to Protect Life,” Chris Chin, Axon’s vice president of immersive technologies, said in a statement. “Their team of accomplished enterprise VR training experts are a great addition to Axon and I’m excited to join forces and level-up our public safety training capabilities to make communities safer for all.”
Foundry 45 says it has created VR and augmented reality training programs for companies around the world, including several Fortune 100 organizations.
The Foundry 45 team will be integrated into Axon’s existing VR team. David Beck, Foundry 45 co-founder and managing partner, said that working together with Axon will further his company’s vision to innovate and work toward the public good.
“I’m exceptionally proud of the work our team has accomplished at Foundry 45,” Beck said in a statement. “We believe purpose is one of the most important elements of a company and are excited our values align with Axon.
Axon said that in connection with the acquisition, two unnamed individuals were granted equity inducement awards of an aggregate 29,507 restricted stock units, with 14,258 of them vesting at intervals over the next three years and 15,249 of them vesting after performance milestones based on content development and sales bookings.
Morgan, Lewis & Bockius LLP represented Axon in the deal, which closed on April 5.
Since the start of the year, Axon’s stock has trended downward, with a few jumps along the way. On Thursday, shares closed up by 1.24% to finish at $132.79. Track the stock here.
Axon has signaled an expansionist tone this year, announcing in February its plans to add 1,200 employees to its workforce that already numbered 2,000, not counting 500 additional contractors. At the time, the company said it projected it would make $1 billion in revenue this year.
The company is also planning to build out its global campus in Scottsdale with an $85 million project — with ground expected to break this year — across the street from its existing headquarters at 17800 N. 85th St. in Scottsdale.
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