Drone operating system developer Xtend merges with JFB Holdings in $1.5B Nasdaq listing, securing $152M investment including Eric Trump participation.
The Israeli drone operating system company XTEND has agreed to merge with New York-listed JFB Holdings in a deal that will value the combined entity at $1.5 billion and secure $152 million in new investment, including participation from Eric Trump, according to multiple reports.
XTEND, which develops autonomous drone operating systems for commercial and defense applications, will go public through the SPAC merger and list on the Nasdaq exchange. The deal represents a significant milestone for the Israeli tech sector and highlights growing investor interest in autonomous systems and drone technology.
The $152 million investment round includes contributions from various investors, with Eric Trump among the notable participants. This high-profile backing underscores the strategic importance of drone technology in both commercial and defense sectors.
XTEND's operating system enables autonomous flight capabilities for drones across multiple industries, including infrastructure inspection, security, agriculture, and military applications. The company's technology focuses on making drone operations more accessible and efficient through advanced software solutions.
The merger with JFB Holdings provides XTend with immediate public market access and substantial capital to fund its growth initiatives. The SPAC route to public listing has become increasingly popular for technology companies seeking to scale rapidly while accessing public market valuations.
This valuation places XTend among the higher-valued Israeli drone companies and reflects the growing importance of autonomous systems in the global technology landscape. The company's focus on operating systems rather than hardware manufacturing positions it as a key enabler of the broader drone ecosystem.
The deal comes amid heightened interest in autonomous systems and AI-driven technologies, with investors seeking exposure to companies that can provide foundational infrastructure for emerging applications. XTend's operating system approach allows it to serve multiple hardware platforms and use cases, potentially creating a defensible market position.
Industry analysts note that the combination of Israeli technical expertise in autonomous systems and the capital markets access provided by the SPAC merger could accelerate XTend's expansion into new markets and applications. The company's technology is particularly relevant for industries seeking to automate inspection, monitoring, and data collection tasks.
The involvement of high-profile investors like Eric Trump suggests confidence in XTend's technology and market potential, though it also raises questions about the political dimensions of defense and security technology investments.
As autonomous systems continue to evolve, companies like XTend that provide the software infrastructure for drone operations are likely to play increasingly important roles in enabling broader adoption across commercial and government sectors.
The successful completion of this merger and the resulting public listing will provide transparency into XTend's financials and growth trajectory, offering investors and industry observers insight into the commercial drone operating system market's potential.
The deal represents another example of Israeli technology companies achieving significant valuations through public market transactions, continuing a trend of successful exits in the country's vibrant tech ecosystem.
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