Smith & Wesson Holding Corp. has agreed to buy Crimson Trace Corp. for $95 million, in a deal utilizing cash on hand, the gun maker said late Monday. Crimson Trace, a leader in laser sighting systems and tactical lightning for firearms, has been a “key supplier” for Smith & Wesson, and will serve “as an ideal platform for our new Electro-Optics Division,” Smith & Wesson said in a statement. Shares of Smith & Wesson rose 0.4% in late trading after ending the regular session up 2.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News