Benzinga | Aug 19, 2021 08:39AM EDT

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Byrna Technologies Inc. ("Byrna" or "the Company") (NASDAQ:BYRN) today announced that it has acquired the assets of Ballistipax(r), 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.



"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."

Mr. 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.

"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.

"We also plan to include the Byrna Shield in our 'Learn Safe' school safety offering and training program. By training and equipping School Resource Officers with a pack that quickly converts into full body armor and comes with a Byrna HD and a bleeding control kit, we believe school resource officers will be trained and equipped to stop a threat from an active shooter and attend to injured individuals without firing a lethal round in the school setting. Today we understand that most school resource officers are armed with only a lethal firearm, which they are unable to fire in a crowded and chaotic school setting. By providing them with a non-lethal weapon and the body armor necessary to confront a school shooter, we believe for the first time they will have the tools necessary to avert these terrible tragedies and to save lives.

"Along those lines, I am pleased to announce that we conducted our first 'Learn Safe' school training program for a public school district on August 16th in Clute, Texas when we trained 25 school law enforcement officers. As part of the program, Byrna provided training for enhanced understanding and support of adolescent development, student mental health, social/emotional learning, positive behavior supports, and behavioral threat assessment, as well as training on the use of a safe and reliable, non-lethal protective tool to effectively deter, disorient, and disarm an active shooter or other violent attacker on campus. The law enforcement officers were also trained specifically on how to use and maintain their Byrna launcher. We look forward to continuing to work with school districts to implement an effective and reliable system that provides successful and sustainable outcomes."

Byrna plans to commence sales of the "Byrna Shield" on the Company's e-commerce site, www.byrna.com, starting this weekend. Once the Company is able to build inventory, the Byrna Shield will be offered through Byrna's network of authorized dealers.

Mr. Ganz concluded, "We look forward to incorporating the Ballistipax products into the Byrna product portfolio, and continuing our important work on our 'Learn Safe' initiative."