Axon announces the acquisition of virtual reality training studio “Foundry 45”
SCOTTSDALE, Ariz., April 6, 2022 /PRNewswire/ — Axon (Nasdaq: AXON), the global leader in connected public safety technology, today announced the acquisition of Foundry 45, an industry-leading virtual reality (VR) studio specializing in the development of immersive training modules for large enterprises. The acquisition, completed on April 5, 2022will integrate Foundry 45 into the Axon VR team.
Founded in 2015, Foundry 45 has provided virtual and augmented reality training applications to global enterprise clients, including several Fortune 100 companies. Pushing the boundaries of corporate training for some of the world’s most innovative companies, the Foundry 45 team creates exceptional virtual reality experiences aimed at improving productivity, strengthening knowledge retention and creating better training results.
“We are thrilled that the team at Foundry 45 has joined Axon in our mission to protect life,” says chris chin, Vice President of Immersive Technologies, Axon. “Their team of accomplished corporate VR training experts are a great addition to Axon and I’m excited to join forces and enhance our public safety training capabilities to make communities safer for everyone.”
Axon’s VR team is transforming public safety by making training more accessible, relevant and affordable – with the goal of using new, immersive technologies to better prepare officers for real-world situations in the field. Axon’s virtual reality products provide virtual reality content that helps agents develop critical thinking, de-escalation techniques, and tactical skills through a diverse set of highly realistic scenarios.
Virtual reality is quickly becoming a game-changing training tool across many industries, and the acquisition of Foundry 45 will help accelerate Axon to deliver innovative skills-based and scenario-based training in public safety, and catalyze the expansion of ‘Axon into new growth markets globally.
“I am exceptionally proud of the work done by our team at Foundry 45,” says David Beckco-founder and managing partner, Foundry 45. “We believe purpose is one of the most important parts of a business and we are thrilled that our values align with Axon. By joining their team, we are able to continue to bring our innovative vision and world-class engineers to the table to create products for the public good.”
Equity incentive awards totaling 29,507 Restricted Share Units (“RSUs”) were granted to two individuals in connection with the acquisition. Of the total amount granted, 11,438 fixed-term PSUs will vest in equal annual amounts after the first, second and third anniversaries of the date of grant. 2,820 fixed-term PSUs will vest two-thirds after the first anniversary and one-third after the second anniversary of the grant date. In addition, up to 15,249 PSUs will vest based on achieving three performance criteria based on content development and sales bookings. All awards are subject to continuous service until each vesting date, except for 7,625 time-based PSUs which would accelerate vesting in the event of involuntary termination without cause.
Morgan, Lewis & Bockius LLP represented Axon as legal counsel in this transaction.
About Foundry 45
Foundry 45 (www.fonderie45.com) uses innovative technologies to create better training results for clients. We are a team of technologists and creatives committed to creating powerful and immersive virtual reality experiences. By leveraging interactive content, we help organizations break the monotony of their current training routines while providing safer, more effective and more engaging employee training solutions. We’ve delivered hundreds of VR experiences for customers across the country and around the world, including several Fortune 100 companies.
Axon is a network of devices, apps and people that helps public safety personnel become smarter and safer. With a mission to protect life, our technologies give customers the confidence, focus and time they need to keep their communities safe. Our products impact every aspect of a public safety officer’s daily experience with the goal of helping everyone get home safely.
We work hard for those who put themselves at risk for all of us. To date, more than 263,000 lives and countless dollars have been saved through the Axon network of devices, applications and people. Learn more about www.axon.com or by calling (800) 978-2737. Axon is a global company headquartered in Scottsdale, Ariz. and global software engineering hub at Seattle, Washington.as well as additional offices Australia, Canada, Finland, Vietnamthe UK and the Netherlands.
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