Economy13:00 · 1h ago

VisionWave Acquires Majority Stake in Israeli Drone Maker Meteor Aerospace

Calcalist

Translated & summarized from Calcalist by baba

Key points

01VisionWave acquires 51% of Meteor Aerospace for $20.4 million, valuing it at $40 million.
02Meteor's Impact-700 UAV flies up to 18,000 feet, 20+ hours, with 200 km range and 100 kg payload.
03Nissan and Bezalel's stakes dilute from 50% to 24.5% each after the deal.
04VisionWave gains board control and plans to integrate Meteor's tech into its products.
05VisionWave expanded to Israel in March under 21-year-old CEO Adir Sabag.
06Previous attempts to sell Meteor's stake to IAI and Israel Shipyards failed due to regulatory concerns.

In this story

People

Yitzhak Nissan, Hazi Bezalel, Adir Sabag, Douglas Davis

OrganizationsVisionWave Holdings, Meteor Aerospace, Israel Aerospace Industries, Foresight Autonomous, xClibre, Israel Shipyards, Israeli Government Companies Authority, Hapoel Haifa

PlacesIsrael, United States, Beit Shemesh

The story · English

American defense technology company VisionWave Holdings is acquiring a 51% controlling stake in Israeli security firm Meteor Aerospace, which was founded by former Israel Aerospace Industries (IAI) CEO Yitzhak Nissan and businessman Hazi Bezalel. The deal values Meteor at $40 million, with VisionWave investing $20.4 million through a share allocation. Completion depends on legal, financial, and technological due diligence, including a successful flight test of Meteor's Impact-700 unmanned aerial vehicle (UAV).

The Impact-700 drone can fly up to 18,000 feet, remain airborne for over 20 hours, operate within a 200-kilometer range, and carry payloads exceeding 100 kilograms. Meteor also develops unmanned ground vehicles, naval drones, long-range precision weapon systems, electronic warfare technologies, and intelligence-gathering solutions. Following the transaction, Nissan and Bezalel's ownership will be diluted from 50% each to 24.5% each. VisionWave will gain the right to appoint most of Meteor's board members and integrate Meteor's technologies into its broader product portfolio.

VisionWave, listed on NASDAQ, specializes in acquiring and enhancing defense technologies, robotics, cyber, and AI-based systems. It expanded into Israel in March under the leadership of 21-year-old Adir Sabag, who also owns the Hapoel Haifa basketball team. Since entering Israel, VisionWave has acquired a data center project in Beit Shemesh, Foresight Autonomous (computer vision systems), and xClibre (AI-based real-time video processing).

Yitzhak Nissan is expected to continue leading Meteor's technological development and will later assume a senior managerial or advisory role. VisionWave Chairman Douglas Davis stated the deal could create a platform of diverse defense technologies to meet growing global demand for autonomous systems and security modernization.

This sale follows a failed attempt to sell Bezalel's stake to IAI in 2023 for $28 million, which was blocked by the Israeli Government Companies Authority due to IAI's dominant position in UAV manufacturing. Subsequent efforts to partner with Israel Shipyards also did not succeed, prompting the current deal with VisionWave.

Read the original at Calcalist