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Smith & Wesson Holding Corporation Completes Sale Of Smith & Wesson Security Solutions Assets

Friday, 27 Jul 2012 05:00pm EDT 

Smith & Wesson Holding Corporation announced that it has completed the sale of substantially all of the assets and various liabilities of Smith & Wesson Security Solutions, Inc. (SWSS), a wholly owned subsidiary of the Company that provides turnkey perimeter security solutions and that was reported as discontinued operations in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2012. Smith & Wesson had previously announced, on October 6, 2011, that it had decided to divest SWSS. On July 10, 2012, the Company announced that it had entered into an Asset Purchase Agreement with FutureNet Group, Inc. of Detroit, Michigan, to dispose of substantially all of the assets and various liabilities of SWSS. The Company completed the disposition on July 26, 2012. The total consideration is less than $10.0 million, including proceeds from a two-year licensing agreement. 

Company Quote

-0.085 -0.63%
11 Jul 2014