Subsequent Events

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Business Acquisition

On July 16, 2015, TASER International B.V., a wholly owned subsidiary of the Company, acquired all of the outstanding capital stock of Tactical Safety Responses Limited, a United Kingdom ("UK") corporation ("TSR"). TSR is the Company's licensed distributor of TASER CEWs and Axon cameras and related accessories in the UK. The purchase price consisted of $4.0 million cash at close, and additional amounts in the form of earn-outs, subject to the achievement of predefined performance metrics. The acquired entity will operate under the name Axon Public Safety UK. The acquisition will be accounted for in the third quarter of fiscal 2015 using the acquisition method in accordance with ASC 805, Business Combinations. Accordingly, the identifiable assets acquired and liabilities assumed will be measured at their acquisition-date fair value. Operating results will be included in the Company’s consolidated financial statements from the effective date of the acquisition.

Stock Repurchases

In August 2015, the Company repurchased approximately 0.3 million common shares under an existing stock repurchase program for a total cost of approximately $7.6 million, or a weighted average cost of $25.86per share. The weighted average cost includes the average price paid per share of $25.83, plus applicable administrative costs for the transactions. These repurchase transactions substantially exhausted the remaining available balance at June 30, 2015 under the stock repurchase program approved by the Board of Directors in May 2014.