XTEND Merges with JFB: $1.5 Billion Deal Brings Israeli Drone Pioneer to the Nasdaq

The Israeli defense tech company XTEND is taking its next big step. Together with JFB Construction Holdings, the two companies are forming the new XTEND AI Robotics through a $1.5 billion all-stock merger. The merged company is set to be listed on the Nasdaq under the ticker symbol XTND and aims to position itself as one of the leading providers of AI-powered autonomous robotic systems in the defense and security sectors.

IPO via Merger

The transaction values the combined company at approximately $1.5 billion and will be completed entirely through a stock swap. Upon completion of the merger, existing XTEND shareholders will hold approximately 70 percent of the shares, while JFB shareholders will hold about 30 percent.

Through this IPO via merger, XTEND gains direct access to the capital market and aims to significantly accelerate the expansion of its production capacities as well as its international growth. The transaction is expected to close (subject to regulatory approvals) later this year.

Focus on Autonomous Defense Systems

XTEND develops AI-powered robotic solutions for military applications, internal security, and public safety agencies. At the heart of the technology is the XTEND Operating System (XOS), which enables the simultaneous control of multiple autonomous air, ground, and sea vehicles.

The platform enables operational forces to carry out complex missions using a network of autonomous systems and is considered one of the key technological building blocks for the next generation of intelligent defense systems.

Expansion of U.S. Production

With this merger, XTEND is pursuing several strategic goals. In addition to establishing a significantly stronger presence in the U.S. market, the company aims in particular to expand manufacturing in the United States. At the same time, the company intends to roll out its autonomous systems more quickly to armed forces, NATO partners, and other allied nations.

The combination of a public stock market listing, increased production capacity, and additional capital is expected to enable XTEND to further expand its position in the rapidly growing market for autonomous defense robotics.

Experienced Founder Remains at the Helm

Aviv Shapira, co-founder and CEO of XTEND, will continue to lead the new company. The aerospace engineer has already founded several technology companies and sold one of them to Intel. He has also been honored twice with an Emmy Award for technological innovation.

Under his leadership, XTEND has evolved from a robotics startup into a provider whose systems are already in operational use worldwide.