Theory about the Dex Story Arc (Potential Spoilers?)

Now I know this sounds like i'm beating a dead horse but hear me out. In SR2 during the Ultor story arc (more specifically the extra mission and the console-exclusive dlc missions) we find out that Ultor was experimenting with a new drug that basically acted as some sort of super-soldier serum that was put on hold due to it's lethal effects on Ultor's guinea pigs. Later on it's revealed that Dex was selling weapons, nuclear waste and other high-end equipment to an unknown third-party. Now this is where it get's interesting. During the Brotherhood story arc, in a few of the Stronghold missions we're informed that the three gangs (or at least the BH) aren't just on Ultor's payroll. To be specific one of our lieutenants (Shaundi) tells us that the gangs also work for some "Scary Euro-Trash Dudes". Let's not forget that during "Corporate Warfare" Dex tells the protagonist that this third-party isn't a "Back-Ass Gang from Stilwater", this could hint that the so-called "nut-jobs in the compounds" that Gryphon mentioned at one point are actually a pretty powerful group that Ultor simply doesn't want to deal with. Finally near the end of SR2 we see that Dex fled Stilwater (presumably to Steelport) to lay low. Finally the description of the Interceptor from the Money Shot DLC mentions that Ultor licensed a large amount of their tech to STAG. Now "why the fuck would they do that!?" You ask. Well let's look at the guy that was really pulling the strings in not just SR2 but SR3. Now let's put the pieces together shall we. Super-Soldiers? Advanced technology? Major corporate entity that has ties with both governments and other criminal organizations around the world? Based in Steelport? Sound familiar? So here's my theory. During SR2 Dex was in charge of giving weapons and other equipment to the three gangs, however at one point or another he got into contact with Ultor's rival the Syndicate Corporation and promptly made a deal with the company where he gave some of Ultor's finest tech to the Syndicate in exchange for a massive amount of cash to not only keep the three gang's in control of the city but also turn Ultor from a clothing and pharmaceuticals company into a brutal PMC. This could explain things like the specialists, STAG laser weapons, brutes etc.
 
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