Ondas Inc. has agreed to acquire DZYNE Technologies, a maker of autonomous aircraft, for an estimated $875.8 million. The transaction will be structured as a cash-and-stock deal, with DZYNE investors, primarily private equity firm Highlander Partners, receiving $200 million in cash and approximately $675 million in Ondas stock. Over half of these shares will be subject to a six-month lock-up period to align incentives with Ondas' stockholders.
This acquisition positions Ondas as a comprehensive autonomous defense technology platform. DZYNE specializes in unmanned aircraft used for military surveillance and reconnaissance, as well as smaller autonomous drones and counter-drone systems. Ondas itself develops autonomous drones, counter-drone technologies, and wireless communication systems.
Following the acquisition, Ondas anticipates DZYNE will generate $191 million in revenue for 2026 and more than $300 million in 2027. DZYNE is also expected to be EBITDA positive from 2026 onwards, with EBITDA margins projected to reach the mid-teens in 2027 and the mid-20% range by 2028. This deal significantly strengthens Ondas' financial outlook, leading the company to raise its 2026 revenue target to at least $525 million, up from its previous projection of $390 million, a figure which also includes its recent Omnisys acquisition.
