Polaris Buys Local Firm, Ups Focus On Defense Market
Polaris Industries, Inc., continues its focus on the defense industry through the recent acquisition of St. Paul-based military navigation software company Primordial, Inc.
Through the acquisition, Medina-based Polaris—which manufactures all-terrain vehicles, snowmobiles, and motorcycles—will gain approximately $2 million in annual revenue and navigation software currently in use by the Army, according to the Star Tribune. The financial terms of the deal were not disclosed.
The acquisition is part of Polaris’ ongoing growth in the defense industry. Polaris has been manufacturing military versions of its all-terrain vehicles for more than five years and that part of its business accounted for about $50 million in sales last year, the company recently told Twin Cities Business.
Earlier this year, Polaris was named in a $382.5 million contract drafted by the U.S. Department of Defense. The contract, which will run through 2018, grants military customers (including those in the Army, Navy, Air Force, Marine Corps, and federal civilian agencies) the ability to purchase fire and emergency vehicles. In September, Polaris was awarded a contract to provide ultra-light tactical vehicles to the German Army. The company described the MV850 vehicles as “highly-moblie” and able to transport personnel and gear through “extreme off-road terrain.”
Polaris spokeswoman Marlys Knutson told the Star Tribune that Primordial “is a small niche deal that just fits with what we are doing in the military.” Knutson added that the software company’s GPS technology will eventually extend into new products associated with civilian and recreational vehicles.
Primordial’s 11 employees will join Polaris but will continue to work out of the software company’s St. Paul headquarters, the Minneapolis newspaper said.
Polaris’ purchase of Primordial is the latest in a string of recent acquisitions and new product launches. In March, the company launched a new line of “Brutus” commercial utility vehicles that it developed in partnership with Bobcat. Then in April, the company acquired French automobile manufacturer Aixam Mega S.A.S. Polaris also re-launched the Indian Motorcycle brand this summer, debuting three new models.
To read more about Polaris’ recent growth, click here.