Ondas Inc. (NASDAQ:ONDS) shares are trading higher Monday after the company announced a $10 million strategic investment in and partnership agreement with World View.
Strategic Investment, Partnership Advance ISR Strategy
The companies said the investment establishes a coordinated go-to-market framework to develop scalable multi-domain and multi-modal intelligence, surveillance and reconnaissance solutions for commercial and defense customers.
Under the agreement, Ondas and World View will collaborate to combine World View's high-altitude, long-endurance stratospheric balloon systems with Ondas' portfolio of unmanned aircraft systems capabilities. The companies plan to evaluate joint solution architectures, priority mission applications and potential go-to-market approaches serving customers across the U.S. Department of War, Department of Homeland Security, allied defense and homeland security organizations and critical infrastructure operators.
Ondas Chairman and CEO Eric Brock said the investment reflects growing customer demand for "layered sensing and responsive autonomy across operating environments," adding that the financing and partnership represent a first step toward integrated multi-domain solutions.
Earnings Around The Corner
Ondas is expected to report fourth quarter earnings on March 16 before the market opens. The company is expected to report a loss of four cents per share and revenue of $17.52 million.
Ondas Shares Climb Higher
ONDS Price Action: At the time of writing, Ondas shares are trading 17.56% higher at $11.86, according to data from Benzinga Pro.
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