DefendTex looks to expand after acquiring Metal Storm

http://www.janes.com/article/55938/...pand-after-acquiring-metal-storm-technologies

Jon Grevatt, Bangkok - IHS Jane's Defence Industry
11 November 2015

Victoria-based DefendTex has acquired the assets of weapons development company Metal Storm, which entered voluntary liquidation in 2012.
Travis Reddy, the CEO of DefendTex, told IHS Jane's on 12 November that the acquisition of both Metal Storm Australia and Metal Storm Inc, its sister company in the US, was completed about six weeks ago.
Terms of the deal were not disclosed, although Reddy said the acquisition features Metal Storm's intellectual property, weapon prototypes, engineering data, technologies and assets, but not the company itself.
Metal Storm went into administration in mid-2012 but its creditor was not immediately able to find a buyer for the company that had over the previous decade developed a unique weapons technology based around its patented, electronically fired, stacked-projectile system.


The thick plottens....

Gatesy