Defense & Space Tech M&A Transactions - July 2026

Download and read the July 2026 issue of the Defense & Space Tech Monthly, covering the latest M&A activity, deal news, and valuation trends across the space and defense technology sectors, including activity in segments such as satellite communications, spacecraft platforms, launch services, space infrastructure, geospatial intelligence, C4ISR and electronic warfare, RF & microwave, microelectronics & semiconductors, embedded computing, interconnects, and test & measurement. Sign up for the Defense & Space Tech Monthly distribution list to stay up-to-date on the headline acquisitions impacting your market and the current dynamics of the publicly traded strategic companies within the industry.

Key Defense Electronics Deals Announced

Target	Buyer	Description
a portfolio company of		Target: United Kingdom-based Ultra Maritime develops and manufactures underwater defense electronics equipment for private sector, international, and U.S. federal government defense and maritime markets. The company specializes in submarine communications, acoustic countermeasures, torpedo defense, anti-submarine warfare (ASW), transducers, sonobuoy systems, and special-purpose arrays. Buyer: Bethesda, MD-based Lockheed Martin is a global aerospace and defense company that develops, manufactures, and sustains advanced technology systems, products, and services for government and international customers. The company provides solutions across aeronautics, missiles and fire control, rotary and mission systems, and space, supporting defense, national security, and mission-critical applications worldwide. Terms: Transaction announced on July 6, 2026. Purchase price is expected to be $3.5B.
a portfolio company of		Target: Fairfax, VA-based DZYNE Technologies develops autonomous aerial systems, artificial intelligence, and mission software supporting defense and national security operations. The company provides long-endurance unmanned aircraft, autonomous mission planning, computer vision, and ISR technologies designed for contested and multi-domain environments. Buyer: West Palm Beach, FL-based Ondas provides autonomous systems, drone technologies, and private wireless solutions for defense, security, and industrial markets. The company develops counter-UAS platforms, unmanned ground and aerial robotics, loitering munitions, and secure communications technologies that support mission-critical surveillance, protection, and data applications. Terms: Transaction announced on July 6, 2026. Purchase price is expected to be $825M, 4.3x FY2026E revenue.
a portfolio company of		Target: France-based CLS a provider of AI-enabled Earth observation value-added services and satellite IoT solutions for private sector and international government environmental, maritime surveillance, energy, and infrastructure markets. CLS processes data from almost 200,000 drifting buoys, animal tags, VMS beacons, & LRIT tracking per month and observes the oceans and inland waters. Buyer: Canada-based MDA Space is a space systems integrator specializing in satellite payloads, robotics, and ground infrastructure for Earth observation and exploration missions. The company delivers advanced subsystems and technologies for commercial, civil, and defense space markets. Terms: Transaction announced on July 8, 2026. Purchase price is expected to be $927M, 2.8x and 14.9x FY2026E revenue and EBITDA, respectively.
		Target: Israel-based Project35 is a developer of autonomous unmanned aerial systems (UAS) and counter-UAS technologies for private sector and Israeli government defense and industrial markets. The company specializes in multirotor cargo drones, fixed-wing VTOL aircraft, tactical FPV systems, and secure command-and-control technologies. Buyer: Jersey City, NJ-based T3 Defense acquires and operates aerospace and defense businesses focused on advanced technologies and mission-critical solutions. The company provides defense systems, unmanned aerial systems, AI-enabled platforms, motion control technologies, and aviation infrastructure services supporting military, homeland security, and government applications. Terms: Transaction announced on July 10, 2026. Purchase price is expected to be $8M, 3.2x FY2026E revenue.