Ondas to Acquire Israeli Firm Nirosta North for $250 Million

Defense technology giant Ondas, a Nasdaq-listed company valued at over $4 billion, is reportedly in advanced negotiations to acquire full ownership of Israeli firm Nirosta North for approximately $250 million. The deal, expected to be finalized in the coming weeks, marks a significant expansion for Ondas, which recently appointed former Mossad chief David (Dedi) Barnea as its chairman.

The acquisition represents a substantial return for Iridium Arrow North, which currently holds 70% of Nirosta North. Iridium, having acquired its controlling stake in 2022 for only 150 million shekels, stands to make a fivefold profit within four and a half years. The remaining shares are held by founder Shalom (Charlie) Levi, who is also expected to receive a significant sum.

Nirosta North, based in the Lev Industrial Zone and employing around 250 workers, specializes in complex metal engineering projects. It serves as a critical subcontractor for major Israeli defense companies including Elbit, Rafael, and Israel Aerospace Industries.

This potential acquisition is the latest in Ondas' rapid growth strategy. The company, which has shifted from industrial communications to a multi-faceted defense corporation, has acquired approximately 20 companies since the beginning of 2025. These acquisitions span drone defense technologies, robotics, optics, and defense systems. The addition of Nirosta North would provide Ondas with heavy physical manufacturing capabilities, bolstering its position as a global defense technology powerhouse.