Mentioned:
Ondas is putting up nearly a billion dollars to buy an unmanned aircraft company. But, why?
What’s happening:
- Ondas (NASDAQ: ONDS) is acquiring autonomous unmanned aircraft company DZYNE Technologies for $875.8M USD in a cash and stock deal
By the numbers:
- Ondas will pay $200M USD in cash and issue $675M USD in equity to acquire DZYNE Technologies
Why it matters:
- DZYNE Technologies designs and sells long-endurance unmanned aircraft, drones and counter-drone systems to government agencies and defense companies globally
Going deeper:
- DZYNE Technologies has won multiple contracts from the United States Air Force Research Laboratory for both long-endurance unmanned aerial systems and unmanned payload delivery
- Private equity company Highlander Partners is the majority owner of DZYNE Technologies and will end up owning approximately 13.8% of Ondas following the successful completion of the acquisition
The intrigue:
- Ondas has been making a flurry of acquisitions to be on the leading edge of long range aerial vehicles lately, including previously purchasing United Kingdom based Rotron Aero
