Ondas Inc. (NASDAQ: ONDS) said Monday it acquired GATE Technologies Ltd. and Bron Technologies, expanding its portfolio of precision-strike and autonomous defense technologies.

Ondas will pay $205 million upfront, plus a working capital adjustment. The deal also includes up to $185 million in performance-based earn-out payments tied to financial targets through 2028.

Ondas held approximately $1.4 billion in cash, cash equivalents and short-term investments as of June 30, 2026.

Deal Includes Cash And Stock

The $205 million purchase price consists of $105 million in cash and $100 million in Ondas common stock.

About $22.5 million of the stock consideration will be issued within nine months of closing, subject to certain conditions. Ondas can pay the potential $185 million earn-out in cash or stock.

The company expects the acquired business to generate more than $130 million in aggregate adjusted EBITDA through 2028.

GATE Adds Precision-Strike Technology

Israel-based GATE develops electronic safe-and-arm devices and advanced electronic fuzing systems. Its technology has been integrated into dozens of weapon systems, including missiles, rockets, unmanned aerial vehicles and loitering munitions.

Bron provides manufacturing and certification capabilities in Europe, including production in Poland.

The acquisition adds electronic fuzing technology to Ondas' existing autonomous strike, propulsion, communications and mission systems portfolio.

Ondas Sees Strong Revenue Growth

Ondas expects GATE to generate $65 million in revenue in 2026. It forecasts revenue will rise to $180 million by 2028.

The company also plans to establish U.S. engineering, integration and production capabilities. It expects U.S.-produced finished products and integrated systems in the first half of 2027.

According to MarketsandMarkets, the global loitering munition market could grow from about $5.4 billion in 2025 to $13.3 billion by 2030.

ONDS Price Action: Ondas shares were up 1.80% at $7.36 at the time of publication on Monday, according to market data.