Ondas buys DZYNE for $876 million in biggest acquisition yet
The deal follows a string of acquisitions, including Omnisys and Cyberhawk, as the Nasdaq-listed company expands its portfolio of autonomous defense and security technologies and raises its 2026 revenue forecast to at least $525 million.
Ondas has agreed to acquire U.S. defense technology company DZYNE Technologies for $875.8 million, completing the largest acquisition in the Nasdaq-listed company's history as it continues an aggressive expansion strategy built around autonomous defense technologies.
The transaction, financed through a combination of cash and stock, follows a series of acquisitions announced over the past several months and significantly expands Ondas' capabilities in intelligence, surveillance and reconnaissance (ISR), counter-drone systems, autonomous strike platforms and military logistics.
DZYNE develops long-endurance autonomous aircraft, counter-UAS systems and autonomous effects technologies for U.S. defense customers. Ondas said the company brings established relationships across the U.S. defense community, along with products that are already operational rather than still in development.
The acquisition comes less than two months after Ondas announced the purchase of Israeli mission-management software company Omnisys in a deal valued at approximately $200 million. In June, the company also agreed to acquire Scotland-based Cyberhawk for approximately $125 million, expanding into drone-based inspection, infrastructure intelligence and AI-enabled analytics for utility and energy companies.
Those deals build on a broader acquisition campaign over the past two years that has included Israeli companies Airobotics, Roboteam and Sentrycs, as well as Bird Aerosystems, British drone manufacturer Rotron Aerospace and several other defense technology businesses.
As part of the DZYNE acquisition, Ondas is creating a new operating division, Ondas Sentinel, which will initially combine DZYNE with World View, another company in the group's portfolio. The division will focus on integrating long-endurance intelligence platforms, counter-drone systems, autonomous effects and mission intelligence into a unified organization.
The transaction is also expected to materially increase Ondas' financial scale.
DZYNE is projected to generate approximately $191 million in revenue during 2026 and more than $300 million in 2027, according to Ondas. The company said DZYNE is expected to be EBITDA positive beginning this year.
Following the acquisition, Ondas raised its 2026 revenue guidance to at least $525 million from a previous forecast of at least $390 million. The updated guidance includes contributions from both DZYNE and Omnisys but does not include Cyberhawk, whose acquisition is expected to close during the third quarter.
Under the terms of the agreement, DZYNE shareholders will receive $200 million in cash and approximately 85 million Ondas shares valued at roughly $675 million. They will own approximately 13.8% of Ondas after the transaction, with more than half of the stock consideration subject to a six-month lock-up.
The acquisition continues a period of rapid expansion for Ondas, which has built a sizable defense technology portfolio largely through acquisitions. The company has also recruited a number of former senior executives from Rafael Advanced Defense Systems, including former CEO Yoav Har-Even, as it expands its presence in Israel and the United States.
