Aran to be acquired by Ondas in $33.9M all-stock deal
What's the deal? Ondas HoldingsDealroom has a profile for this one. Try Dealroom →, a provider of autonomous systems for the defence and security sectors, has agreed to acquire AranDealroom has a profile for this one. Try Dealroom → in an all-stock transaction valued at about $33.9 million (NIS 100 million). The deal remains subject to certain conditions.
How is it structured? Payment is in Ondas shares, not cash, with the share count set by the average price over the five trading days before allocation. Ten per cent of the consideration will sit in escrow for 18 months to secure Aran's obligations.
What each side brings: Aran, founded in 1982 and based in Caesarea, runs defence development and manufacturing activities. It handles prototyping, machining, assembly, 3D printing, quality control and production in classified facilities — from design through serial production.
What's the endgame? Ondas wants to expand its domestic manufacturing capacity in Israel as demand grows for counter-drone, autonomous and robotic systems. Chairman and chief executive Eric Brock said integrating Aran will let the group support multiple programmes at once, shorten the shift from development to production and increase delivery volumes.
Co-CEO Oshri Lugasi said Aran's capabilities will support counter-drone systems, intelligence, surveillance and reconnaissance systems, loitering munitions, autonomous aircraft and ground robotics.
The numbers: Ondas reported second-quarter 2026 revenue of $83.8 million, up from $50.1 million in the first quarter and $6.3 million a year earlier. It raised 2026 revenue guidance to between $525 million and $550 million and reported an order backlog of $757 million.
The signal: Buying manufacturing capacity rather than building it reflects how quickly defence demand is outpacing supply. For Ondas, owning production onshore in Israel is a bet that speed from design to delivery will decide who wins the next wave of drone and autonomous systems contracts.
Read more: Israel Defense
Image credit: Ashwin Kumar
