India, Aug. 18 -- Ondas Inc., (ONDS) a provider of autonomous drone and defense technology, on Tuesday said it has agreed to acquire Aran Defense Ltd., the defense-focused division of Israeli engineering and manufacturing company Aran Ltd., to expand its engineering, manufacturing and production capabilities and support growing demand for its autonomous defense platforms.
Ondas shares were down nearly 5% in pre-market trading after closing at $9.00 on Monday. The stock has traded in the range of 3.20 - 15.28 in the last 1 year.
Under the agreement, Ondas will acquire Aran Defense for about $33 million in cash or Ondas stock. The transaction represents approximately 1.3 times estimated 2026 revenue and is expected to close in the third qua...