Umarex acquired Walther in 1993, but Walther has continued to function more or less unchanged ever since. The only Walther-branded guns made by Umarex are Blank-fire, CO2, or Airsoft, the rest are all made by Walther, including the rimfire pistols which are produced in the Umarex plant in Arnesburg, simply because Walther's HQ in Ulm isn't set up to work with alloys.