Ondas Holdings in Advanced Talks to Acquire Nirosta Tzafon for $250 Million

Ondas Holdings is in advanced negotiations to acquire the private defense company Nirosta Tzafon for approximately $250 million, with the deal expected to close in the coming weeks. Nirosta Tzafon, located in the Bar Lev Industrial Park, specializes in complex metal projects and advanced technologies, serving as a subcontractor for major Israeli defense companies including Elbit Systems, Israel Aerospace Industries (IAI), and Rafael, as well as international defense firms.

The Stakeholders and Financial Gains

The majority stake (70%) in Nirosta Tzafon is held by the Iridium HETz Tzafon group, led by Noam Ginzburg and Uri Galai, the former CEO of Sigma Investment House, alongside investor Udi Lavie, a former deputy head of the Mossad. The remaining 30% of the shares are held by Shalom (Charlie) Levy, who founded the company. Iridium acquired control of Nirosta Tzafon in 2022 for 150 million shekels. With the current acquisition valuing the company at $250 million for 100% of the shares, Iridium is set to exit the investment with a fivefold profit after four and a half years of operation.

"Nirosta Tzafon has proven its capability as a critical subcontractor in the defense sector, maintaining high standards in advanced metal technologies and complex engineering projects.

Ondas's Rapid Expansion in the Defense Sector

Ondas, which was a small industrial communications company at the beginning of the decade, has grown to a valuation of over $4 billion on Nasdaq following a series of aggressive acquisitions. Since the beginning of 2025, Ondas has acquired nearly 20 defense companies, including SentriX, Apeiro Motion, and DZYNE. The company reported $1.4 billion in cash at the end of the second quarter, with revenues reaching $83.8 million compared to $6.3 million in the same period of 2025.