Ondas acquires Cyberhawk for $125M to build AI-driven infrastructure intelligence platform

Ondas Cyberhawk Acquisition Targets Critical Infrastructure Intelligence

Ondas Holdings Inc (NASDAQ:ONDS) announced a definitive agreement to acquire Cyberhawk for approximately $125 million, marking a strategic expansion into critical infrastructure intelligence 1

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. The transaction, expected to close during the third quarter of 2026 subject to customary closing conditions and regulatory approvals, will be funded approximately 95% in cash 2

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. Certain members of the Cyberhawk leadership team will roll approximately $5 million of proceeds into Ondas common stock with a one-year lock-up period 3

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Cyberhawk operates in 40 countries and serves more than 300 customers across utility and energy markets, including blue-chip clients such as PG&E, Southern California Edison, Shell, SSE, ESB, Qatar Energy, and Bechtel 1

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. The company has inspected more than 500,000 infrastructure assets and accumulated over 232 terabytes of proprietary inspection data, creating a foundation for AI-driven analytics and operational intelligence 2

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Financial Performance and Revenue Growth Trajectory

Cyberhawk forecasts revenues exceeding $45 million for its fiscal year ending March 2027, with approximately 95% recurring revenue through multi-year contracts and software subscriptions 2

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. The company maintains a $95 million backlog and currently operates with high single-digit EBITDA margins that management believes can expand to more than 25% by 2030 3

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. At the end of the first quarter, Ondas reported approximately $1.48 billion in cash, restricted cash, and short-term investments, positioning the company to fund the acquisition comfortably 2

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Building an Integrated Autonomous Intelligence Platform

The acquisition propels Ondas into expanding critical infrastructure markets, advancing its strategy to build a category-defining platform across defense, security, and industrial sectors. By combining Cyberhawk's infrastructure intelligence capabilities, proprietary data assets, AI-enabled analytics, and cloud-based iHawk platform with Ondas' autonomous systems and defense technologies, the combined company expects to deliver an integrated autonomous intelligence platform spanning autonomous data collection, digital-twin visualization, asset analytics, and AI-driven operational decision support 1

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Founded in 2008, Cyberhawk has established a leadership position through its drone-based inspection services and enterprise visualization software. The company's cloud-native iHawk platform enables customers to visualize, manage, and analyze complex infrastructure assets through digital-twin workflows, geospatial intelligence, asset tracking, and AI-assisted analytics 3

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. Over nearly two decades, Cyberhawk has built a substantial dataset across utility, energy, renewable, and industrial infrastructure environments, creating a foundation for future applications including predictive maintenance, defect detection, and asset-health intelligence 1

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Dual-Use Technology Strategy Addresses National Security Priorities

"The company has built a highly differentiated platform combining software, data, AI-enabled analytics, and deep domain expertise across some of the world's most important utility and energy networks," said Eric Brock, Chairman and CEO of Ondas Holdings Inc 2

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. Brock emphasized that critical infrastructure resilience, energy security, and industrial continuity are increasingly national security priorities, creating demand for integrated solutions across both government and commercial markets 1

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The acquisition strengthens Ondas' position as a dual-use technology company serving defense, security, and industrial customers. This dual-use technology strategy creates advantages through shared technology development, larger addressable markets, operational efficiencies, and broader customer adoption 1

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. Chris Fleming, founder and CEO of Cyberhawk, noted the company has been at the forefront of drone-enabled inspection since 2008, and expressed excitement about joining forces with Ondas to accelerate technology adoption while improving data quality and reducing risk across critical infrastructure 2

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Ondas shares rose 3% in premarket trading following the announcement, reflecting investor confidence in the strategic rationale 3

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. Lincoln International LLP served as exclusive financial advisor to Cyberhawk shareholders 2

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. Cyberhawk will continue operating its existing businesses without interruption following the closing 3

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