Ondas buys defense drone maker DZYNE for $875.8M, lifts revenue target to $525M

What's the deal? OndasDealroom has a profile for this one. Try Dealroom → has acquired DZYNE TechnologiesDealroom has a profile for this one. Try Dealroom → in a cash-and-stock transaction valued at about $875.8 million, positioning the company as a full-service autonomous defense platform. The consideration includes $200 million in cash and roughly 85 million Ondas shares. DZYNE will operate alongside stratospheric-sensing subsidiary World View inside a new division, Ondas Sentinel.

What's the endgame? DZYNE builds long-endurance intelligence, surveillance, and reconnaissance (ISR) aircraft, counter-drone systems, and kinetic interceptors used in military and force-protection missions. That deepens Ondas's footprint in defense aviation, well beyond its prior focus on communications and unmanned systems support.

Why now? Chief executive Eric BrockDealroom has a profile for this one. Try Dealroom → tied the move to shifting warfare. "Military advantage increasingly belongs to organizations capable of deploying autonomous systems at scale," he said.

By the numbers: Ondas raised its 2026 revenue target to at least $525 million, up from at least $390 million, after adding DZYNE and Omnisys. DZYNE is projected to generate $191 million of revenue in 2026 and more than $300 million in 2027, and brings a $1.5 billion three-year pipeline and $111 million backlog as of June 30, 2026.

What could go wrong? Ondas is issuing roughly 85 million new shares, leaving DZYNE owners with about 13.8% of the company and creating meaningful dilution. More than half the equity — including 44,999,998 shares — is under a six-month lock-up, but resale rights on nearly 85 million acquired shares could add selling pressure once restrictions expire. Execution also hinges on converting the pipeline into funded contracts.

The signal: The deal is a sizable bet on autonomous defense for a company of Ondas’s scale, putting it in the same race as established primes and specialist drone makers scaling autonomous and counter-drone capabilities as defense budgets rise and unmanned systems prove decisive in modern conflict.

Read more: Bloomberg, Binance, StockTitan, X, Ondas Investor Relations, Inside Unmanned Systems

Image credit: mark6mauno