It might appear that if an Israeli protection firm is seeking to be bought, its most suitable choice lately is US firm Ondas (Nasdaq: ONDS). Simply this week, one other acquisition by Ondas in Israel was reported. The corporate can pay $200 million for Rosh Ha’ayin-based Omnisys, a developer of AI-powered Battle Useful resource Optimization (BRO) software program for multi-domain protection planning and real-time decision-making. To guage from the file, it’s probably that this won’t be Ondas’s final acquisition in Israel. The corporate has been on a shopping for marketing campaign in accordance with its technique of non-organic growth within the protection business, notably within the sizzling space of drones, and of providing complementary merchandise. A lot of the acquisitions, a double-digit quantity, have been in Israel.
In response to the financials it launched final week, on the finish of the primary quarter of this yr Ondas had over $1 billion money, after elevating capital a number of occasions, so it has the wherewithal to finance additional acquisitions. As well as, a number of of Ondas’s senior executives are from Israel and have connections within the native protection business and a deep data of it.
Ondas is headed by chairman and CEO Erick Brock. It’s lively in autonomous drones, protection robotics, and communications options. Its first acquisition in Israel was pretty small. In 2022, it paid $15 million for native drone expertise firm Airobotics, after the latter’s share value on the Tel Aviv Inventory Alternate collapsed following its IPO in 2021.
Within the wake of that acquisition, Ondas turned dual-listed, and for some time was traded on the Tel Aviv Inventory Alternate, till its administration determined to delist it two years in the past. In 2024, after the inventory was delisted in Tel Aviv and remained listed on Nasdaq solely, Ondas had a market cap of simply $50 million. In the present day, the market cap is $4.8 billion, following an increase in its share value of over 1,000% in slightly over two years.
Ondas can be a really liquid inventory, with a median every day buying and selling quantity of 75 million shares. Since reaching a peak earlier this yr, nonetheless, the inventory has weakened, and is down 30% since January, even after a pointy rise following the discharge of the corporate’s financials final week. Ondas lately introduced a strategic partnership with Palantir (Nasdaq: PLTR), the AI big within the protection market.
Wealthy navy expertise
The collection of firms acquired by Ondas in Israel is from a reasonably different vary of actions within the protection sphere. It has purchased firms that produce drone interception programs, a heavy engineering firm, sensor programs firms, and an organization that provides superior mine detection and clearance capabilities.
The biggest acquisitions in Israel have been of Sentrycs final yr, Hen Aerosystems earlier this yr, and Omnisys final week, offers amounting to between $133 million and $225 million every. As well as, Ondas purchased a US firm, Mistral, for $175 million, of which the shareholders had been from Israel.
RELATED ARTICLES
One other latest acquisition was that of heavy engineering tools firm INDO Earth Shifting. One of many gainers from that deal was reportedly Oshri Lugasi, co-CEO of Ondas in Israel (Ondas Autonomous Techniques), however in accordance with Ondas it was not an insider deal.
Lugasi (54) was previously chief of engineering within the IDF, with the rank of brigadier basic. He later served as VP of promoting in Israel at Rafael Superior Protection Techniques, and joined Ondas in 2025. Ondas said that in his position at Rafael, Lugasi “led the negotiation and execution of government-to-government (G2G) protection contracts exceeding $20 billion,” and that within the IDF he commanded 1000’s of individuals and led vital missions, together with through the Second Lebanon Conflict in 2006.
One other Israeli senior government at Ondas is Meir Kleiner, who based and ran Airobotics, Ondas’s first acquisition in Israel. Brigadier Normal (Res.) Yaniv Rotem serves on the advisory board of Ondas Autonomous Techniques. Rotem was head of the Directorate of Analysis and Growth (Mafat) on the Ministry of Protection, and in accordance with Ondas he oversaw “superior applications in missile programs, airborne laser protection, multi-domain command-and-control and plenty of different programs.” In 2025, Ondas appointed Mark Inexperienced as head of International Company Growth and Mergers & Acquisitions. Inexperienced beforehand held senior positions in funding banking within the US and Israel.
Ondas’s acquisitions led to it recording income of $50.1 million within the first quarter of this yr, up from $4.2 million within the corresponding quarter. Its working loss grew nonetheless from $10.3 million to $42.7 million, however a non-cash achieve of $389.5 million on the valuation of warrants issued in reference to the October 2025 fairness increase and January 2026 fairness increase meant that the corporate posted a internet revenue of $361 million, which compares with a lack of $14 million within the corresponding quarter.
Ondas had an orders backlog of $457 million on the finish of the primary quarter, and expects income for 2026 as an entire of over $390 million, which compares with $51 million in 2025. In his feedback on the outcomes, Brock stated that “our counter-drone platforms, led by Sentrycs and Iron Drone, are seeing sturdy world demand as clients reply to evolving safety threats and heightened world tensions.” He additionally talked about contracts price a complete of $220 million for 4M Protection and INDO Earth.
After the latest decline from its peak, may Ondas be an fascinating funding? In response to “The Wall Road Journal”, 9 analysts cowl the inventory, and all of them fee it “Purchase.” Their value targets vary between $16 and $25, representing a beneficiant common premium of 107% on the present value on Nasdaq.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on Might 20, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
