TLDR

Ondas (ONDS) acquired INDO Earth Moving Ltd. on March 17, 2026
INDO holds a $140 million military tender for Heavy Engineering Platforms
Deal terms: $5.66M cash + 5.49M stock, with earn-outs up to $140M over three years
Revenue from the program expected to begin in Q2 2026
ONDS stock jumped ~7% on the news, with a 3% premarket move reported

Ondas (ONDS) announced on March 17, 2026 that it has acquired INDO Earth Moving Ltd., a company that procures and supports heavy engineering equipment for military and infrastructure programs.

$ONDS acquires INDO Earth Moving with a $140M defense contract, positioning itself as a prime contractor on a multi-year military program.

The deal expands Ondas’ defense footprint with plans to integrate robotics and autonomous capabilities into next-gen ground systems. pic.twitter.com/d8pSEBHCiW

— Shay Boloor (@StockSavvyShay) March 17, 2026

The deal came with a ready-made revenue driver. INDO was already awarded a $140 million tender as prime contractor to supply a fleet of heavy-tracked engineering vehicles to a major, unnamed military customer.

The purchase price was $5,663,398 in cash plus 5,493,388 stock units. Additional earn-out payments of up to $140 million are possible over three years, tied to INDO hitting specific milestones.

Ondas Holdings Inc., ONDS

Ondas retains the right to void the acquisition before the first milestone if INDO cannot meet the tender’s requirements. A Registration Rights Agreement was also signed, giving INDO’s sellers a path to resell their stock with daily volume limits in place to keep trading orderly.

The program covers delivery of dozens of heavy engineering vehicles over two years. It also includes setting up maintenance and logistics infrastructure to support operations for at least four years after delivery.

Revenue from the contract is expected to start in Q2 2026.

What Ondas Plans to Do With INDO

CEO Eric Brock called engineering vehicles “critical” to modern military operations, pointing to their role in mobility, force protection, and construction in combat environments.

Ondas sees INDO as more than just a contract win. The company plans to use its existing robotics technology — from subsidiaries Roboteam, Apeiro, and 4M Defense — to eventually upgrade INDO’s engineering vehicles into autonomous platforms.

That means adding remote operation, autonomous navigation, and mission automation to the vehicles over time. Ondas Autonomous Systems Co-CEO Oshri Lugassy said the goal is to turn engineering vehicles into systems that can operate in high-risk areas without putting personnel at risk.

How This Fits the Broader Portfolio

Ondas already operates across aerial drones and ground robotics. This acquisition adds heavy engineering vehicles as a third leg to that portfolio.

4M Defense focuses on demining and land intelligence. Roboteam makes unmanned ground systems used by defense forces. Apeiro works on advanced ground robotics. INDO’s engineering vehicle expertise slots into that lineup.

The company also flagged potential non-military uses, including border security, disaster response, and infrastructure development — though no contracts in those areas were announced.

Ondas said it will share more details about INDO’s financial outlook on its earnings call scheduled for March 25, 2026 at 8:30 a.m. Eastern Time.

ONDS stock was up roughly 7% on March 17 following the announcement, after gaining around 3% in premarket trading earlier that day.

The post Ondas (ONDS) Stock Jumps 7% After Locking In $140M Military Contract appeared first on CoinCentral.

---

Filed under: News - @ March 18, 2026 10:25 am