You are mostly correct. Mike Goguen, a billionaire venture capitalist, bought 5 companies and put them all together. He bought ABS, Lawrence barrels, defiance actions, lone wolf stocks, Jense precision and now bought a resin company that makes parts for stealth aircraft to improve the barrel performance and heat transfer.
Mike Degerness is no longer with them. Jeff Lawrence is no longer with them, their original marketing guy Derek is no longer with them and they have a difference CEO and VP of manufacturing than they did in 2015. Mike G's only rationale for buying it all is to develop a Automatic barrel that he can sell to the military in large numbers - at some point in the future.
The barrels produced under ABS 8 years ago have very few things in common with the barrels they produce today. The resin compound is different. The carbon fibers themselves are different and applied in a slightly different pattern. The barrel steel is different and the rifling in the barrels is different.
Its true they didnt come up with the original idea. They are attempting to, and what appears to be true today, improving greatly on the original design.