Ondas Holdings Inc. (NASDAQ: ONDS) closed its acquisition of INDO Earth Moving Ltd. on March 17, 2026. The deal was valued at $5.66 million in cash and 5.49 million shares of Ondas common stock, giving the defense contractor a new heavy‑engineering capability.
The purchase expands Ondas’ Autonomous Systems (OAS) segment into heavy engineering, complementing its existing drone, ground robotics, and counter‑drone businesses. By combining INDO’s expertise in procurement, integration, and lifecycle support of heavy‑engineering equipment with Ondas’ autonomous systems and robotics, the company aims to deliver advanced, mission‑ready platforms for defense customers.
INDO recently secured a $140 million military tender for heavy‑engineering platforms that is expected to generate revenue beginning in the second quarter of 2026. The tender includes the supply of heavy‑tracked engineering vehicles and long‑term maintenance, logistics, and operational support services over several years, providing a predictable revenue stream for Ondas.
Eric Brock, Chairman and CEO of Ondas, said, “INDO brings a proven operational platform and an important $140 million tender with a major defense customer. By combining INDO’s engineering equipment expertise with Ondas' capabilities in robotics, autonomous systems, and mission technologies, we believe we can deliver advanced engineering platforms designed for the evolving needs of modern defense forces. We see immediate revenue production as well as operating leverage with OAS' Roboteam and Apeiro ground systems.”
The acquisition follows a series of recent purchases, including Rotron Aerospace Ltd. on March 16, 2026, BIRD Aerosystems on March 11, 2026, and the full acquisition of 4M Defense Ltd. earlier this year. Together, these moves reinforce Ondas’ strategy of building a “system of systems” for defense and critical infrastructure markets and position the company to capitalize on growing demand for autonomous and heavy‑engineering solutions.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.