Ondas (ONDS) Stock Surges 7% Following $140M Military Contract Acquisition
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TLDR INDO Earth Moving Ltd. was purchased by Ondas (ONDS) on March 17, 2026 A $140 million military contract for Heavy Engineering Platforms comes with INDO Acquisition structure: $5.66M in cash plus 5.49M shares, with potential earn-outs reaching $140M across three years Contract revenues are projected to commence in Q2 2026 Shares of ONDS climbed approximately 7% following the announcement, building on a 3% premarket gain On March 17, 2026, Ondas (ONDS) revealed its acquisition of INDO Earth Moving Ltd., a specialist in procuring and maintaining heavy engineering equipment for defense and infrastructure projects. $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 transaction included an immediate revenue catalyst. INDO had already secured a $140 million contract as the lead contractor to deliver a fleet of heavy-tracked engineering vehicles to a significant military client whose identity remains undisclosed. Ondas paid $5,663,398 in cash combined with 5,493,388 stock units for the acquisition. Performance-based earn-out payments totaling up to $140 million could be paid over the next three years, contingent on INDO achieving designated operational targets. Ondas Holdings Inc., ONDS The agreement includes a provision allowing Ondas to cancel the deal prior to the first milestone should INDO fail to satisfy the tender’s specifications. Additionally, a Registration Rights Agreement was executed, providing INDO’s former owners with controlled stock resale options subject to daily volume restrictions to maintain market stability. The contract encompasses the provision of multiple heavy engineering vehicles across a two-year delivery timeline. It further requires establishing comprehensive maintenance and logistics support infrastructure to sustain operations for a minimum of four years…
Filed under: News - @ March 18, 2026 11:26 am