True Velocity Acquires LoneStar Future Weapons In $84 Million Deal
Known for its unique polymer-cased ammunition, True Velocity is expanding into the firearm field through the acquisition of LoneStar Future Weapons following a transaction valued at approximately $84 million. Before the acquisition, both companies worked jointly on an entry for the U.S. Army’s Next Generation Squad Weapons (NGSW) program.
With True Velocity’s backing, LoneStar took over the technical package associated with General Dynamic’s RM277 bullpup rifle. The True Velocity entry is one of two teams remaining in the NGSW trials, which is expected to culminate in January 2022. As a subsidiary of True Velocity, LoneStar plans to develop a lightweight medium machine gun for the military, as well as other commercially available offerings.
For more information, visit tvammo.com.
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Article by AMERICAN RIFLEMAN STAFF
