Ondas (ONDS) said Monday it has acquired Dzyne Technologies, a maker of autonomous defense systems, for $875.8 million in cash and stock.
Under the terms, Ondas will pay $200 million in cash and about 85 million shares valued at $675 million.
Dzyne will be integrated in to Ondas Sentinel, a newly formed division that will combine its portfolio of autonomous defense technologies, Ondas said
Ondas also raised its full-year revenue outlook to at least $525 million from $390 million. Analysts surveyed by FactSet expect $395.6 million.
Ondas shares were 1.6% higher in premarket trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments