No, Rustoleum didn't "buy out" Testors. Both Testors and Rustoleum are part of the RPM Conglomerate. They have been for some time. About 4 or so years ago, RPM appeared to be "consolidating" Testors and Rustoleum, whatever that means (RPM's words, not mine). Since both are already owned by RPM, it's not a "buyout". So this part of the story is old news.
I don't know about the status of their enamels, I don't use them.
Their acrylics work fine. I just wish they would give us a decent lid for the jars.