Ondas to Buy Autonomous Aircraft Maker DZYNE for $875.8 Million

Ondas Inc. agreed to buy autonomous aircraft maker DZYNE Technologies in an $875.8 million cash-and stock-deal that positions Ondas as a full-service autonomous defense technology platform.

Investors in DZYNE, which is majority owned by private equity firm Highlander Partners, will receive $200 million in cash and about $675 million in stock, with more than half of those shares locked up for six months, according to a statement reviewed by Bloomberg News.

DZYNE makes unmanned aircraft for military surveillance and reconnaissance, along with smaller autonomous drones and counter-drone systems.

Ondas develops autonomous drones, counter-drone technology and wireless communications systems for government and industrial customers. The acquisition turns it into a broader defense technology company.

The landscape for financing a growing ecosystem of defense tech startups is robust. Venture funding behind the sector is surging as investors pour record amounts of capital into startups focused on military technologies. Those companies in the US raised $19.2 billion in the first half of this year, more than the $16.6 billion raised in all of 2025, according to data compiled by PitchBook.

DZYNE is expected to generate revenue of $191 million this year and $300 million in 2027, Ondas said in the statement. With the addition of DZYNE and its Ominisys acquisition completed in May, Ondas is targeting $525 million in revenue this year, an increase from $390 million earlier.

Ondas’ shares have fallen 24% this year, giving it a market value of $3.9 billion. The stock jumped more than 280% in 2025.