The acquisition was structured with a combination of cash and stock, with DZYNE shareholders receiving $200 million in cash and approximately 85 million Ondas shares valued at $675 million.
This deal aligns the interests of DZYNE’s management and investors with those of Ondas’ stockholders, as more than half of the equity consideration is subject to a six-month lock-up.
DZYNE shareholders, led by Highlander, will hold about 13.8 percent of Ondas’ outstanding shares.
The acquisition is expected to bolster Ondas’ financial profile, with DZYNE projected to generate $191 million in revenue in 2026 and over $300 million in 2027.
The company anticipates a revenue growth CAGR exceeding 80 percent from 2025 to 2028, driven by the adoption of the ULTRA platform for ISR applications and the IonStrike kinetic interceptor solution, alongside contributions from the counter-drone portfolio, including Dronebuster.
DZYNE is expected to achieve positive EBITDA in 2026, with margins in the mid-teens by 2027, rising to the mid-20 percent range by 2028.
The acquisition expands Ondas’ portfolio across ISR, counter-UAS, precision strike, and autonomous systems for U.S. and allied defense customers. DZYNE will operate within the newly created Ondas Sentinel division, enhancing the company’s U.S. defense offerings.
Eric Brock, Chairman and Chief Executive Officer of Ondas, stated, “DZYNE brings exceptional technology, world-class engineering talent and mission-ready systems across long-endurance ISR, counter-UAS and autonomous effects. The combination with DZYNE accelerates Ondas’ build-out of the next-generation autonomous defense platform-not through a single breakthrough product, but by integrating complementary, mission-proven technologies into a scaled operating platform.”
