Byrna Technologies Expands Product Line with the Acquisition of Ballistipax Assets

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[{"type":"text","content":"Conducts \"Learn Safe\" Training Program at a Public School in Texas\n ANDOVER, Mass., Aug. 19, 2021 /PRNewswire/ -- Byrna Technologies Inc. (\"Byrna\" or \"the Company\") (Nasdaq: BYRN) today announced that it has acquired the assets of Ballistipax®, a developer of single-handed rapidly deployable bulletproof backpacks. As part of the transaction, Byrna has acquired several Ballistipax trademarks, two patents, finished goods and raw materials inventory, as well as other assets. Byrna funded the acquisition with cash on hand. Terms of the transaction were not disclosed. \n\n \n \n \n \n \n \n\n \n\"This tuck-in transaction is another step in our strategy to drive growth through the expansion of our product line and our brand presence in the non-lethal self-defense space,\" stated Bryan Ganz, CEO of Byrna. \"Moreover, the Ballistipax product line is an excellent fit for the Byrna portfolio because it has the sole purpose of saving lives, consistent with our company's mission. These backpacks are intended for use in active shooter situations, which unfortunately have become all too common in the U.S. and around the world. Ballistipax enables an individual to survive such a situation, and help others survive as well.\" \nMr. Ganz continued, \"We believe that Ballistapax products will have strong appeal with the approximately 150,000 members of Byrna Nation as well as other consumers and security professionals looking for a discrete way to have access to full body armor without overtly wearing a tactical bulletproof vest. \n\"We will be offering these protective backpacks under the \"Byrna Shield\" product name. The Byrna Shield will be offered in three configurations: (1) with a bleeding control kit (but without ballistic armor, for consumers that have their own armor); (2) with the bleeding control kit and with Ballistipax Level IIIA protective soft armor designed to stop multiple rounds fired from a handgun; and (3) with a bleeding control kit and with Ballistipax Level III+ protective hard armor designed to stop multiple rounds fired from a rifle. All packs will come with a mounting system allowing users to have their Byrna or similarly sized handgun mounted to the front protective plate for easy access when the pack is deployed. The Byrna Shield will have an MSRP ranging from $339 to $899. \n\"We also plan to include the Byrna ...

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