Business brief
Institutional Savings Consolidation and Defense Hardware M&A Drive Israeli Deals
WeSure acquires Altshuler Shaham Finance for NIS 1B while Ondas buys defense maker GATE for up to $390M.
Business
Ondas is paying up to $390 million for GATE Technologies, securing direct control over essential electronic fuzing hardware for precision defense systems.
BackgroundElectronic Safe & Arm Devices ensure warheads detonate reliably while preventing accidental ignition during transport and handling. Accelerated worldwide procurement of precision-guided weapons has driven defense contractors to acquire specialized hardware suppliers.
- Ondas pays $205 million upfront comprising $105 million in cash and $100 million in stock, with $185 million tied to performance earn-outs through 2028.
- GATE produces smart fuzes and guidance hardware deployed in loitering munitions, tactical drones, and Israel's Iron Dome missile defense shield.
- The deal represents Ondas' 13th Israeli tech transaction, expanding its cumulative capital commitment in local defense manufacturing toward $1 billion.
Business
WeSure is deploying NIS 1 billion to buy Altshuler Shaham, reshaping domestic pension management by uniting digital insurance distribution with traditional long-term asset management.
BackgroundAltshuler Shaham Finance manages up to NIS 160 billion in long-term provident and pension fund assets for over 2 million Israelis. Acquiring established savings platforms gives digital insurance firms steady fee revenues and deep domestic market reach.
- WeSure buys a 45% stake for NIS 820 million while CEO Yair Levinstein expands his personal holding to 25% for NIS 180 million, consolidating governance.
- Co-founders Gilad Altshuler and Ran Shaham will exit their equity positions, ending an era for one of Israel's premier long-term asset management brands.
- The transaction provides WeSure with steady fee income from institutional savings while giving Altshuler Shaham digital distribution capabilities.
Business
Nofar Energy is investing €103 million in Romanian battery storage to protect solar project revenues against grid bottlenecks and negative electricity pricing.
BackgroundUtility-scale storage systems stabilize electrical grids by capturing excess solar energy during peak midday generation for release during high-demand hours. Transmission grid bottlenecks across Europe make battery integration critical for preserving solar project power sales.
- The 1.09 GWh battery installation will connect directly to two Nofar utility solar plants currently under construction across Romania.
- Targeting completion in Q3 2027, the buildout strengthens Nofar's operational footprint and grid ancillary services portfolio in Eastern Europe.
- Integrating storage protects power sale margins against negative pricing during peak solar production hours across European power markets.
Business
Next Vision is securing top Wall Street analyst coverage as surging global drone hardware demand drives its expansion toward a US dual listing.
BackgroundNext Vision manufactures micro-stabilized optical camera systems used in military quadcopters, tactical reconnaissance drones, and loitering munitions. Dual listings allow Tel Aviv-traded defense technology firms to tap deeper US institutional investment funds.
- Needham initiated coverage with a Buy rating and NIS 275 price target, highlighting the company's leading market share in tactical drone cameras.
- Management reaffirmed plans to complete a US dual listing to broaden institutional ownership beyond domestic Israeli capital markets.
- Surging global demand for micro-gimbals in defense applications has made Next Vision one of the top-performing equity listings on TASE.
Business
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