Ondas (ONDS) said Monday it has acquired Dzyne Technologies, a maker of autonomous defense systems, for $875.8 million in cash and stock.
Under the terms, Ondas will pay $200 million in cash and about 85 million shares valued at $675 million.
Dzyne will be integrated in to Ondas Sentinel, a newly formed division that will combine its portfolio of autonomous defense technologies, Ondas said
Ondas also raised its full-year revenue outlook to at least $525 million from $390 million. Analysts surveyed by FactSet expect $395.6 million.
Ondas shares were 1.6% higher in premarket trading.