Security Devices International Inc., the Fitchburg-based maker of rubber bullets and other less-lethal projectiles used by military and police forces has entered into an agreement to purchase another less-lethal company for $4.14 million.
The purchase of the Target will open up SDI to its numerous contracts, contacts and its critical federal and state licenses held for manufacturing and export purposes. SDI will use these for its own future growth. The proposed acquisition also permits SDI to control its supply chain, as well as to offer a more extensive training platform for existing and potential agencies.
SDI is looking to close the transaction on or before May 6, 2016.
