Ondas Completes Mistral Merger, Securing $1B+ Defense Programs & $264M Backlog
Summary
Ondas Inc. has completed its $175 million merger of Mistral Inc., a U.S. defense prime contractor, a move that significantly expands its direct participation in U.S. Department of War programs. This acquisition brings programs valued in excess of $1 billion and adds approximately $264 million to Ondas' backlog, boosting its pro forma backlog to $457 million as of March 31, 2026. The merger provides Ondas with direct access to key U.S. Army and Special Operations contract vehicles and enhances its domestic manufacturing and integration capabilities. This strategic expansion follows recent positive developments, including the launch of a joint venture and a $50 million border security award, positioning Ondas as a fully integrated defense prime contractor. The company expects Mistral to be a meaningful contributor to revenue growth and EBITDA. Investors should watch for the upcoming 8-K filing for additional details on the transaction and its financial implications.
At the time of this announcement, ONDS was trading at $10.51 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $0.69 to $15.28. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Access Newswire.