Ondas Inc. (NASDAQ:ONDS) said Tuesday it entered a definitive agreement to acquire Aran Defense Ltd., the defense-focused division of Israel-based Aran Ltd.
The deal will expand Ondas’ engineering and manufacturing capacity in Israel. It also aims to support growing demand for the company’s autonomous defense systems.
Aran Defense Brings Manufacturing Scale
Aran Defense operates about 4,400 square meters of engineering and manufacturing facilities in Israel. Its capabilities include CNC machining, electromechanical assembly, cabling, prototype manufacturing and 3D printing.
The business serves Israeli government customers and international defense companies. Ondas expects the acquisition to help it increase production, shorten development cycles and improve control over costs, quality and supply chains.
“As demand across our defense businesses continues to grow, expanding localized manufacturing capacity is becoming increasingly important to our ability to execute,” Ondas Chairman and CEO Eric Brock said.
Ondas said the added capacity could support its counter-drone, intelligence, surveillance and reconnaissance, loitering munition, autonomous aerial and ground robotic systems.
Ondas Values Deal At About $33 Million
Aran Defense generated about $17 million in revenue in 2025, up from roughly $12 million in 2024. The business expects about $26 million in 2026 revenue and positive adjusted EBITDA.
Ondas will acquire Aran Defense for about $33 million in cash or Ondas common stock, subject to customary adjustments. The price represents about 1.3 times expected 2026 revenue.
The company expects to close the acquisition in the third quarter of 2026.
As of June 30, 2026, Ondas had $1.4 billion in total liquidity, comprising cash, cash equivalents, restricted cash and short-term investments.
Stock Performance And Technical Analysis
Ondas stock edged higher Tuesday, outperforming a sharp decline in the broader technology sector. The Nasdaq fell 1.42%, while the S&P 500 lost 0.50%. The technology sector dropped 2.47%.
Ondas has gained 125% over the past 12 months. Moreover, the stock remains above its 20-day moving average of $8.52 and 50-day average of $8.30.
However, shares remain below the 100-day average of $9.20 and 200-day average of $9.39. The stock’s relative strength index stands at 54.82, signaling neutral momentum. The $9 level could provide near-term support. Meanwhile, $10 remains a key resistance area.
Analysts Remain Bullish
The stock carries a Buy consensus rating and an average price forecast of $18.15.
On Monday, Ladenburg Thalmann raised its price forecast to $22.75 and maintained a Buy rating. Oppenheimer raised its forecast to $18 on Friday while keeping an Outperform rating. Needham maintained its Buy rating and $19 forecast the same day.
ONDS Price Action: Ondas shares were up 0.11% at $9.01 at the time of publication on Tuesday, according to Benzinga Pro data.
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