Ondas agrees to acquire three defense companies for $56 million — Jerusalem Post
U.S. defense technology company Ondas has agreed to acquire three companies in Israel — Insignito, Ottopia Defense and Caribou Labs — for a total of $56 million. As The Jerusalem Post reports, these assets are intended to complement Ondas’ platform for integrated autonomous defense systems.
Technologies for autonomous systems
Once the deals are completed, Ondas plans to obtain technologies for resilient communications, remote control of unmanned systems, as well as navigation and communications for environments where GPS and other systems may be subject to interference. The company said it aims to combine sensors, communications, navigation and autonomy in aerial and ground systems.
Insignito develops passive acoustic tools capable of detecting and classifying drones that may evade radar detection. Ottopia provides communications and teleoperation software designed to maintain real-time connectivity with unmanned platforms under limited bandwidth or degraded communications conditions. Caribou specializes in positioning and identification technologies for GPS-denied environments or electronic warfare conditions.
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Terms of the deal and previous acquisitions
Ondas said the $56 million purchase price will be paid in cash or stock and represents less than three times the acquired companies’ projected 2027 revenue. Additional payments of up to $32 million are possible through 2028 if specified targets are achieved.
The company also granted equity incentive awards to 37 employees who will join Ondas as a result of the acquisitions. They include 2.98 million restricted stock units with different vesting schedules and 80,000 stock options at an exercise price of $7.72 per share.
Ondas is developing a vertically integrated business in autonomous systems: its portfolio includes drones, counter-drone systems, robotic ground platforms, unmanned aerial vehicles, and intelligence, surveillance and reconnaissance solutions. Last week, the company also acquired Israel’s Gate Technologies and its Polish manufacturing partner, Bron Technologies, for approximately $205 million.
