M&A
confidence high
sentiment positive
materiality 0.90
Ondas acquires GATE/Bron for $205M cash/stock plus up to $185M earn-out
Ondas Inc.
- Deal: $105M cash, ~10.69M shares ($100M) plus $25M working capital adjustment; $22.5M stock deferred up to 9 months.
- Earn-out up to $185M in cash/stock tied to 2028 financial targets; acquired biz seen generating >$130M Adj. EBITDA through 2028.
- GATE's ESAD/fuzing tech in ~100 RUBI LM configurations, integrated into dozens of weapon systems (missiles, UAVs, loitering munitions).
- Projected revenue: $65M in 2026 rising to $180M in 2028; ~80% of GATE revenue outside Middle East.
- Options: 300k shares at $7.23 to 41 new hires as inducement; U.S. production targeted H1 2027.