NEW YORK (TheStreet) -- Shares of TASER International (TASR) were gaining 3.5% to $34.89 on heavy trading volume Tuesday after the defense products company announced its acquisition of MediaSolv Solutions.
TASER said it will pay $8 million to acquire MediaSolv Solutions. The company will also pay up to $5 million of earn-outs for shareholders and employees, employee retention, and relocation payments for a total potential price of $13 million.
MediaSolv creates solutions for interview room video, CCTV, in-car, and on premises digital evidence management. TASER said it will pair the technology with its Axon and EVIDENCE.com platform to "unify existing silos of digital media and evidence into a seamless workflow from capture to the courtroom."
About 3.1 million shares of TASER International were traded by 12:33 p.m. Tuesday, above the company's average trading volume of about 2.2 million shares a day.
TheStreet Ratings team rates TASER INTERNATIONAL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TASER INTERNATIONAL INC (TASR) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."