Ondas Inc. (NASDAQ: ONDS) has completed its previously announced acquisition of Cyberhawk Holdings Limited, strengthening its position in the growing market for autonomous drone systems and AI-powered inspection technologies.
The transaction, completed on August 10, 2026, gives Ondas 100% ownership of Cyberhawk. The acquisition was funded through approximately $118.2 million in cash along with 581,732 shares of Ondas common stock issued to Cyberhawk’s sellers.
The deal expands Ondas’ portfolio with Cyberhawk’s technology and expertise in drone-based infrastructure inspection, an area where demand is increasing as industries seek safer and more efficient alternatives to traditional inspection methods.
AI-Powered Inspection Expansion
Cyberhawk brings capabilities focused on autonomous aerial inspection and artificial intelligence. Its technology can support the inspection of critical infrastructure, potentially giving Ondas additional opportunities across sectors that rely on large and complex physical assets.
The acquisition fits into Ondas’ broader strategy of building an integrated autonomous systems platform. The company has been expanding across drone, robotics, defense and security applications, with recent activity including military unmanned systems and counter-drone technologies.
By adding Cyberhawk, Ondas gains another technology platform that could complement its existing autonomous systems businesses and create opportunities for cross-selling and broader customer relationships.
Stock Consideration and Lock-Up
As part of the transaction, Ondas issued 581,732 common shares as acquisition consideration through exempt Regulation D and Regulation S transactions. The additional shares increase Ondas’ outstanding share count, which could modestly dilute the ownership percentage of existing shareholders.
However, the newly issued shares are subject to significant transfer restrictions. The shares have a one-year transfer restriction, followed by additional limitations under a Registration Rights and Lock-Up Agreement. Daily resales during the applicable period are limited to each seller’s pro rata portion of 10% of Ondas’ average daily trading volume.
Ondas also agreed to file a Rule 424(b)(7) prospectus supplement covering potential resale of the shares.
New Employee Equity Awards
The transaction also included equity incentives for Cyberhawk employees joining Ondas. The company granted restricted stock units covering 1,601,593 shares and stock options covering 1,290,000 shares at an exercise price of $9.11 per share to 47 new employees. The awards are subject to multi-year, time-based vesting schedules.
What Comes Next
The completed acquisition marks a significant step in Ondas’ expansion into AI-enabled drone inspection. Investors will now be watching how quickly Cyberhawk contributes to revenue, how effectively its technology integrates with Ondas’ existing businesses and whether the combined platform can capture additional opportunities in infrastructure, defense and industrial inspection.
With the deal now closed, the focus shifts from transaction execution to commercialization and integration.
