Ondas to acquire Airobotics for $15.2M
Aug. 08, 2022 5:18 AM ETOndas Holdings Inc. (ONDS)By: Khyathi Dalal, SA News Editor
- Ondas (NASDAQ:ONDS) through its wholly owned subsidiaries, Ondas Networks and American Robotics entered into a definitive merger agreement to acquire AIROBOTICS, Israeli developer of autonomous unmanned aircraft systems and automated data analysis and visualization platform.
- Each issued and outstanding share of Airobotics will be converted into, and exchanged for, 0.16806 shares of Ondas; Ondas expects to issue ~2.8M shares as consideration to the Airobotics shareholders implying an acquisition value of ~$15.2M.
- Transaction expected to be completed in 2H22.
- The combination of Airobotics with American Robotics is a seminal event in the drone sector, creating a global provider of commercial drone solutions capable of scaling for customers.
- Airobotics has developed a strong customer pipeline and is now positioned to leverage our investments in technology.
- Q2 earnings scheduled on Aug.9 will provide additional details on the acquisition.