Ondas in Advanced Talks to Acquire Defense Firm Nirosta North for $250 Million

Ondas, a rapidly expanding defense technology group, is reportedly in advanced negotiations to acquire Nirosta North, a private Israeli defense contractor, for approximately $250 million. The deal is expected to be finalized in the coming weeks.

Nirosta North, which specializes in complex projects and advanced metal technologies, employs 250 people and serves as a subcontractor to major Israeli defense companies like Elbit, Israel Aerospace Industries, and Rafael, as well as international defense firms. The company is primarily owned by Iridium North Arrow, a group led by Noam Ginzburg and Uri Galai, which acquired a controlling stake in 2022. Shalom (Charlie) Levy, the company's founder, holds a minority stake and is expected to receive over $200 million from the sale.

Iridium is poised to make a significant profit, reportedly five times its investment within four and a half years. During this period, Nirosta North expanded by acquiring 70% stakes in Blitzblau and Goldberger Mechanical Technologies in 2023. The previous owners of these companies retain a 30% stake and continue to manage them.

Ondas has been on an aggressive acquisition spree, transforming from a small industrial communications company into a major defense player. Since the beginning of 2025, it has acquired nearly 20 companies. Notable acquisitions include Centrix, an anti-drone technology firm, for about $250 million in November 2025, and Israeli robotics companies Apeiro Motion and M4, specializing in autonomous ground systems and subterranean robotics respectively. Ondas also acquired a 51% stake in SPO, a manufacturer of precision optical components.

Further acquisitions include GATE, a developer of electronic fuzes and warhead arming devices, for $205 million to $390 million, and Israeli firms Aran Defense and DZYNE, which develops anti-drone technology, for up to $875 million combined. Ondas ended the second quarter with $1.4 billion in cash and reported revenues of $83.8 million, a significant increase from $6.3 million in the same period last year. The company projects revenues between $525 million and $550 million for 2026.

Ondas's leadership includes Dedi Barnea, the former head of the Mossad, serving as Chairman of Ondas Defense and Global President. Oshri Lugasi, a former IDF Engineering Corps chief, manages Ondas Israel and is considered the driving force behind its acquisition strategy. The company also employs several other former senior executives from Rafael and the Ministry of Defense's research and development division.