Ondas announced it has entered into a definitive agreement to acquire Cyberhawk, a global provider of critical infrastructure intelligence, drone-based inspection, visual data management, and AI-enabled analytics for utility, energy, and industrial customers.
The transaction is valued at approximately $125 million. About 95% of the purchase price will be funded in cash, while certain members of Cyberhawk’s leadership team will roll approximately $5 million of proceeds into Ondas common stock, subject to a one-year lock-up and certain exceptions. The acquisition is expected to close during the third quarter of 2026, subject to customary closing conditions and regulatory approvals.
Cyberhawk provides an autonomous infrastructure intelligence platform combining drone inspection services, AI-enabled asset analytics, and enterprise visualization software. The company serves blue-chip utility and energy customers, including PG&E, Southern California Edison, Shell, SSE, ESB, Qatar Energy, and Bechtel.
Founded in 2008, Cyberhawk has inspected more than 500,000 infrastructure assets and accumulated more than 232 terabytes of proprietary infrastructure inspection data. Its cloud-native iHawk platform helps customers visualize, manage, and analyze complex infrastructure assets through digital-twin workflows, geospatial intelligence, asset tracking, and AI-assisted analytics.
The acquisition will expand Ondas’ presence in industrial infrastructure markets and advance its strategy of building an autonomous intelligence platform across defense, security, and critical infrastructure sectors. By combining Cyberhawk’s infrastructure intelligence platform, data assets, AI-enabled analytics, and iHawk software with Ondas’ autonomous systems, mission automation technologies, and sensing capabilities, the companies expect to deliver a platform spanning autonomous data collection, digital-twin visualization, asset intelligence, and AI-driven operational decision support.
Cyberhawk is expected to generate more than $45 million in revenue during its fiscal year ending March 2027, with high-single-digit EBITDA margins. Ondas said it expects those margins to expand to more than 25% by 2030. Cyberhawk also generates about 95% recurring revenue through multi-year customer contracts and software subscriptions and has a $95 million backlog across utility, renewable energy, and energy infrastructure markets.
Ondas said Cyberhawk will continue operating its inspection, software, and analytics businesses without interruption after closing. The company also intends to support continued investment in Cyberhawk’s leadership team, global delivery capabilities, and cloud-based iHawk platform.
Lincoln International LLP acted as exclusive financial advisor to shareholders of Cyberhawk Holdings Limited.
KEY QUOTES:
“Cyberhawk is a market leader in critical infrastructure intelligence and represents a transformative addition to Ondas. The company has built a highly differentiated platform combining software, data, AI-enabled analytics and deep domain expertise across some of the world’s most important utility and energy networks. We believe critical infrastructure resilience, energy security and industrial continuity are increasingly national security priorities, creating a large and growing opportunity for integrated autonomous intelligence solutions. The acquisition will significantly expand Ondas’ presence in critical infrastructure markets while strengthening our position as a dual-use technology company serving defense, security and industrial customers. We believe dual-use business models create powerful advantages through shared technology development, larger addressable markets, operational efficiencies, and broader customer adoption. By combining Cyberhawk’s leadership in infrastructure intelligence with Ondas’ autonomous systems, sensing and mission automation technologies, we believe we will create a category-defining autonomous intelligence platform that delivers substantial value for customers and shareholders.”
Eric Brock, Chairman and CEO of Ondas
“Cyberhawk has been at the forefront of drone-enabled inspection since 2008. Long before the technology was widely understood. We built the company from the ground up, scaling globally and proving both the commercial model and the real-world value of autonomous inspection. Today, we’re excited to join forces with Ondas to accelerate the adoption of this technology — improving data quality while fundamentally reducing risk and human exposure across critical infrastructure.”
Chris Fleming, Founder and CEO of Cyberhawk
“Cyberhawk represents a highly strategic addition to Ondas as we continue executing our growth plan around autonomous platforms, software, and integrated customer workflows. Cyberhawk brings a recurring revenue profile, strong customer retention, a differentiated software platform, and a leadership position in utility infrastructure intelligence. This acquisition is expected to create immediate customer and technology synergies, integrating Cyberhawk’s specialized software with Ondas’ core capabilities. Ultimately, this combination will further broaden our dual-use focus, strengthening our reach across both defense and critical infrastructure markets as we deliver end-to-end autonomous inspection and operational intelligence solutions at scale.”
Mark Green, Global Head of Corporate Development and M&A at Ondas
