By Colin Kellaher
Ondas has acquired defense-technology company Dzyne Technologies for about $875 million in cash and stock in a deal that bolsters its U.S. defense platform.
Ondas on Monday said the deal consideration includes $200 million in cash and 85 million shares, with more than half of the stock portion subject to a six-month lock-up.
Dzyne develops autonomous defense systems, including long endurance unmanned aircraft systems and intelligence, surveillance and reconnaissance platforms.
Ondas, a West Palm Beach, Fla., provider of artificial intelligence-powered autonomous drone systems, said it will combine Dzyne with its World View business to form Ondas Sentinel, a dedicated operating division unifying its U.S. portfolio of autonomous defense technologies.
Ondas said Dzyne's owners, led by Highlander Partners, will own about 13.8% of the combined company.
Write to Colin Kellaher at colin.kellaher@wsj.com