acquisition of Dallas company Intelect, Inc.

The deal for 84 percent of Intelect, also provides working capital for Intelect to expand operations and develop new markets.

Challenger, with offices in Hamilton, had acquired 16 percent of Intelect in January and negotiated an option to acquire the remainder.

The option was exercised after Intelect settled debts with Hughes Aircraft Corp. and Lockheed Missiles and Space Company, Inc.

Intelect is an international provider of multi- media systems focussed on delivering integrated voice, data and video solutions for communications-critical applications.

Challenger also owns US-based Savage Arms and Ontario-based Lakefield Arms, both rifle makers, as well as Savage Range Systems.