Ondas Inc. has signed a definitive agreement to acquire Aran Defense Ltd., the defense-focused division of Israel-based Aran Ltd., in an all-stock transaction valued at about $33 million. The deal adds roughly 4,400 square meters of engineering and manufacturing space across three Israeli sites and is intended to expand Ondas' localized production capacity for counter-drone systems, ISR platforms, loitering munitions, and autonomous aerial and ground robotic systems. Aran Defense generated about $17 million in 2025 revenue, up from roughly $12 million in 2024, and projects around $26 million in 2026 revenue with positive adjusted EBITDA. The consideration will be paid in Ondas common stock based on the average share price over the five trading days preceding allocation, with 10% held in escrow for 18 months. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals including clearance from the Israel Competition Authority. The acquisition extends a broader Israeli expansion strategy that has included prior deals for Omnisys, Apeiro Motion, SPO, 4M, Sentrycs, and Airobotics.