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31 Dec 25. TransDigm Group Incorporated (NYSE: TDG) today announced it has entered into a definitive agreement to acquire Stellant Systems, Inc. (“Stellant” or “the Company”), a portfolio company of Arlington Capital Partners, for approximately $960 min cash, including certain tax benefits. Stellant, headquartered in Torrance, California, is a leading global designer and manufacturer of high-power electronic components and subsystems serving the aerospace and defense end market. The Company’s products are highly engineered, proprietary components with substantial aftermarket content and a strong presence across major aerospace and defense platforms. Approximately 50% of Stellant’s revenue is derived from the aftermarket, and nearly all its revenue is generated from proprietary products. Stellant is expected to generate approximately $300 m in revenue for the calendar year ending December 31, 2025. The Company has manufacturing locations in Torrance, California; Williamsport, Pennsylvania; Melville, New York; and Topsfield, Massachusetts. The Company employs approximately 950 people.
Mike Lisman, TransDigm’s Chief Executive Officer, stated, “We are excited to have an agreement to acquire Stellant. The Company’s highly engineered, proprietary products generate significant aftermarket revenue and fit well with our long-standing business strategy. The Company has established positions across a diverse range of both commercial and defense platforms, adding new products and services to TransDigm’s portfolio. As with all TransDigm acquisitions, we expect this acquisition to create equity value in-line with our long-term private equity-like return objectives.”
The acquisition is subject to regulatory approvals in the United States and customary closing conditions. (Source: PR Newswire)
30 Dec 25. NUBURU, Inc. (NYSE American: BURU), a global pioneer in high-performance blue laser technology, today provided a comprehensive update outlining multiple near-term strategic execution milestones expected to be achieved in January 2026. These milestones reflect continued progress across the Company’s previously announced defense platform expansion, financial strengthening initiatives, and transformation into an integrated Defense & Security Hub.
January 2026 Execution Milestones Update
Tekne Strategic Partnership – Network Contract, Equity Transfer, and Convertible Shareholder Loan
NUBURU confirms that Nuburu Defense LLC (“Nuburu Defense”), Tekne S.p.A. (“Tekne”), and Tekne’s shareholders are targeting early January 2026 for the execution of key agreements underpinning their previously announced strategic industrial collaboration, including the execution of a formal network contract (rete di imprese) governing joint industrial and commercial activities, and the transfer of a 2.9% equity interest in Tekne S.p.A. to Nuburu Defense, together with a €13 m convertible shareholder loan.
As part of this framework, €1 m has already been advanced by NUBURU as an initial disbursement under the €13 m convertible shareholder loan, supporting the commencement of the first contractual activities contemplated under the network contract.
Strategic Revenue Framework and International Defense Expansion
Within the framework of the network contract, NUBURU and Tekne intend to jointly identify, map, and pursue strategic international defense and security projects, including Tekne’s electronic-warfare solutions and military special-purpose vehicles, targeting customers and partners in the United States, the United Arab Emirates, and NATO-aligned countries.
Revenues generated from such projects are expected to be shared on a contractual joint-venture basis, independently of Nuburu Defense’s initial 2.9% equity interest in Tekne, and in accordance with the economic arrangements defined under the network contract. As previously disclosed, any increase in NUBURU’s equity participation in Tekne beyond 2.9% remains subject to Italian Golden Power authorization.
Orbit – Planned Increase to Controlling Stake and Path to Full Acquisition
Following the initial investment completed in 2025, the Company plans to provide Orbit S.r.l. (“Orbit”) with a further capital injection in January 2026 to increase Nuburu Defense’s ownership interest above 20%. Upon reaching this threshold, Orbit’s bylaws will be amended and governance changes implemented to provide Nuburu Defense with effective control of Orbit’s board and operations.
The Company intends to make additional investments with the objective of acquiring 100% of Orbit’s equity. Pursuant to the underlying agreement, the acquisition of the remaining equity interests, following the investments already made and resulting in effective control through governance rights, will be completed through the issuance of preferred shares of the Company, subject to stockholder approval at a meeting to be held no later than July 31, 2026.
This staged acquisition approach is expected to allow Nuburu Defense to begin consolidating Orbit’s revenues once control is obtained, subject to applicable consolidation and purchase accounting requirements, while aligning governance and shareholder rights with applicable accounting and corporate standards.
Lyocon – Signing and Closing of Full Ownership
The Company confirms that Nuburu Defense and the shareholders of Lyocon S.r.l. (“Lyocon”) are planning the signing and closing of the previously announced Lyocon transaction in January 2026, subject to customary conditions precedent.
Lyocon’s blue-laser business is expected to be complementary to the Company’s original business at inception, while also supporting advanced defense, additive manufacturing, and industrial applications. Following closing, the full revenues generated by Lyocon are expected to be consolidated into NUBURU’s financial statements.
Maddox Defense Joint Venture – Strategic Scope and Execution Status
NUBURU also announced that Nuburu Defense continues to pursue the previously announced joint venture with Maddox Defense Incorporated, with signing targeted by the end of January 2026. The timing reflects the parties’ ongoing efforts to assess and integrate potential strategic synergies with NUBURU’s broader Defense & Security platform, including possible collaboration with Tekne and other Italian industrial partners.
The proposed JV is intended to focus on dual-use UAV solutions and deployable additive-manufacturing capabilities, supporting forward-deployed production, sustainment, and defense manufacturing-as-a-service models for military and allied customers.
Financial Strengthening and Capital Structure
The Company continues to execute its financial strengthening plan, aimed at supporting its transformation into a diversified defense and security technology platform while maintaining deep know-how in laser technology and its dual-use applications.
Recent financing initiatives, including structured debt instruments and equity-linked solutions, have improved liquidity, extended the Company’s operational runway, and provided dedicated capital to support acquisitions, strategic investments, and integration activities.
NUBURU remains focused on maintaining compliance with NYSE American listing standards while optimizing its capital structure to restore a positive equity position and support sustainable long-term growth.
Business Model Evolution and Market Opportunity
NUBURU’s evolving platform is expected to integrate laser-based hardware capabilities with mission-critical software and autonomous systems, addressing significant defense, security, and operational resilience markets.
Expanded offerings span electronic warfare, secure situational awareness, crisis management systems, and advanced robotics and UAV solutions.
Management Commentary
“The beginning of 2026 is expected to represent a pivotal execution phase for NUBURU,” said Alessandro Zamboni, Executive Chairman of NUBURU. “With the formalization of the Tekne partnership, the planned acquisition of the Lyocon blue-laser business, the achievement of control of Orbit, and the advancement of the Maddox Defense JV, we are translating strategic planning into operational reality.”
Dario Barisoni, Co-CEO of NUBURU and CEO of Nuburu Defense, added: “Our focus is on building an integrated, execution-driven Defense & Security platform. By combining blue-laser capabilities with software, advanced manufacturing, and deployable defense solutions, we are positioning Nuburu Defense to address real operational needs of government and allied customers, while establishing scalable and recurring revenue models.” (Source: BUSINESS WIRE)
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Ultra-high precision, modularity and speed to defeat dynamic targets
OpenWorks is a provider of modular autonomous vision systems that deliver ultra-high performance real-time detection, identification and tracking of highly dynamic aerial threats at long range.
Our specialist capability lies in our dynamic positioners, EO/IR optical units, approach to sensor fusion and common interface that enables the integration of third-party detectors, classifiers, interceptors and effectors. Artificial intelligence modules work seamlessly with primary detectors and C2 to provide comprehensive detection, identification, tracking and slewing-to-cue against complex backgrounds and foregrounds.
OpenWorks is internationally and operationally proven across C-UAS and Air Defence.
Vision Pace
Designed to enhance dynamic multi-threat engagement, Vision Pace offers microradian precision targeting to kinetic defeat chains, marking a step-change for layered air defence. The development is intended to provide capability to expeditionary force protection, GBAD, SHORAD, M-SHORAD across land and naval domains.
Vision Flex
Vision Flex provides the highest performance surveillance, tracking and classification capability available, for use on static, mobile and un-crewed systems. Vision Flex cameras are highly configurable and can be used with built-in twin-AI modules of third Party classifiers and trackers.
Vision Flex is easy to integrate through standard interfaces and has a range of plug-and-play optical modules and upgrades to allow it to be configured easily to suit each mission or site.
Vision Guard
Vision Guard is a highly configurable, autonomous, portable and deployable platform that provides automated alerts with AI detection and classification.
It can be configured with combinations of active and/or passive sensors to suit the mission. Detections and alerts are streamed out to a handheld tablet or other systems via the standard interface, SAPIENT, Asterisk etc.
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