Ondas Holdings (ONDS) Surges 10.5% After Bagging New Govt Contract

We recently published 10 Stocks Stealing Market Spotlight. Ondas Holdings Inc. (NASDAQ:ONDS) is one of the best performers on Wednesday.

Ondas Holdings extended gains for a second day on Wednesday, jumping 10.53 percent to finish at $8.92 apiece following announcements that it won the bidding for the development of an autonomous border protection system for a government entity.

In a statement, Ondas Holdings Inc. (NASDAQ:ONDS) said that the company, through its business unit, Ondas Autonomous Systems, was chosen by an undisclosed government entity as the prime contractor for the design, development, and integration of a full-scale drone-based autonomous border protection system for both fixed and mobile environments.

The system will enable 24/7 ISR, autonomous swarm deployment, and rapid detection and mitigation of ground and aerial threats across complex terrain and high-activity border zones. All sensors, effectors, and mission operations will be unified under a centralized command-and-control architecture.

The program is expected to begin next month and completed in two years. Development will be implemented in multiple phases.

“This program builds directly on our global momentum and accelerates our strategy to deliver integrated, mission-ready autonomous solutions to defense and homeland security customers,” said Ondas Holdings Inc. (NASDAQ:ONDS) Chairman and CEO Eric Brock.

For his part, OAS co-CEO Oshri Lugassy said that by combining OAS’ autonomous platforms with capabilities from its partners, the company “will deliver a highly automated border protection architecture capable of swarm deployment, rapid threat interception, and persistent ISR.”

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Disclosure: None. This article is originally published at Insider Monkey.