Ondas acquired three defense businesses for $56 million upfront, with up to $32 million in earnouts.
- Insignito adds acoustic drone detection, Ottopia adds remote control, and CaribouLabs adds technology for operations when GPS is disrupted.
- Ondas registered about 7.8 million shares for potential resale and approved equity awards for 37 incoming employees.
- Stocktwits traders compared Ondas’ acquisition strategy to Palantir’s platform approach.
Shares of Ondas, Inc. (ONDS) are on track to end a four-week losing streak after acquiring three defense technology firms as retail investors weigh how the new capabilities could fit into the autonomous systems platform it is building with Palantir Technologies (PLTR).
ONDS stock closed Wednesday down 4% at $7.40, with shares down 3% so far this month.
Ondas Buys 3 Pieces Of Its Defense Platform
Ondas bought Insignito Solutions, the defense business of Ottopia Technologies and CaribouLabs, for a combined $56 million in cash or stock, with up to $32 million more payable if performance targets are met through 2028. Based on its forecasts, Ondas said the upfront price is less than three times the business’s expected 2027 revenue.
Insignito’s acoustic technology can detect small first-person-view drones, including threats that can be hard to find using radar or radio-frequency sensors. Ottopia Defense adds AI-enabled autonomy, resilient communications and remote control for unmanned vehicles. CaribouLabs brings positioning and communications capabilities for operations when GPS is disrupted.
“These acquisitions reflect our strategy of assembling the critical technologies required to make autonomous systems more capable, resilient and scalable in contested environments,” CEO Eric Brock said. “Together, these businesses give Ondas more to sell and more ways to win.”
The expansion also carries a cost. On Wednesday, Ondas registered about 7.8 million shares for potential resale, nearly all connected to the three new acquisitions, and approved restricted stock units covering about 3 million shares, plus 80,000 options, for 37 incoming employees. The three deals came shortly after Ondas announced its acquisition of GATE Technologies and Bron Technologies for $205 million upfront.
How Palantir Connects Ondas’ Defense Portfolio
The partnership began last year, when Ondas said it would use Palantir’s Foundry platform to bring together data from customer engagement, sales, production, supply chains and field support. The initial focus was helping Ondas scale its Optimus drone and Iron Drone Raider counter-drone systems.
In March, Ondas, Palantir and World View expanded the effort from business operations into autonomous missions. Their three named workstreams were Warp Speed, to support production and supply chains for World View’s high-altitude Stratollites; AI Flight Director, for mission planning and operations; and SkyWeaver, for intelligence and decision-making at the edge. The companies said the aim was to connect stratospheric platforms with autonomous air and ground systems, allowing field-gathered information to inform mission decisions.
Ondas Sentinel returned to the Palantir stage at AIPCon 11this month, presenting SkyWeaver as a broader, connected approach to mission autonomy.
How Do Retail Traders Feel About ONDS?
On Stocktwits, retail sentiment for ONDS jumped to ‘bullish’ from ‘neutral’ levels a week ago amid ‘high’ message volume.
One user called Brock’s acquisition push a “PLTR strategy,” saying that Ondas is buying businesses to build for the future. Another said folding small, specialized suppliers into one platform could make it easier to serve large defense customers.
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“The question is whether the backlog converts into a real business,” one user said. Another said it would be good to see a new or expanded order alongside the acquisition announcements.
ONDS stock has declined 4% year-to-date.
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