ArmaLite is an American firearms manufacturer founded in 1954 by Eugene Stoner, who is known for designing the AR-15 rifle. The company initially focused on developing military firearms and played a significant role in the evolution of modern rifles. In the 1960s, ArmaLite sold its rights to the AR-15 to Colt's Manufacturing Company, which led to the widespread adoption of the rifle by the U.S. military as the M16. Today, ArmaLite continues to produce a variety of firearms, including rifles and pistols, catering to both civilian and military markets.