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Nukkleus completes Tiltan acquisition
Yahoo Financeยท 2025-12-31 14:35
Group 1 - Nukkleus has completed the acquisition of Tiltan Software Engineering, making it a wholly owned subsidiary [1] - Tiltan's technology is utilized in advanced defense programs, including training platforms for Israel Aerospace Industries and machine learning development for Elbit Systems [1] - The acquisition cost is NIS 47,600,000, with 75% payable in cash and 25% in Nukkleus common stock, secured by a pledge of the acquired shares [1] Group 2 - Tiltan has received multiple innovation and excellence awards from the Israeli Ministry of Defense over its three-decade history [1] - The payment for the acquisition will be made in six installments, concluding in June 2026 [1] - Tiltan's GPS-denied navigation systems are designed for use in contested electromagnetic environments, enhancing operational capabilities for Rafael Advanced Defense Systems [1]