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Propulsion supplier Deutz closes €1.6 billion acquisition of military vehicle maker FFG

Deutz expects FFG to contribute more than €1 billion in revenue in 2027 as the core of its defense business.

a heavy vehicle assembly hall with lifting gantries and engine blocks on supports beside steel track links, morning light through high windows.
Illustration.

Deutz has completed its acquisition of FFG Flensburger Fahrzeugbau, a producer of wheeled and tracked military vehicles.1–2 It announced the completion with its Nov. 5 nine-month results.1

Deutz reports the FFG acquisition is completed

Purchase price per the July agreement

The purchase price is €1.6 billion and is to be paid partly in cash and partly in the form of newly issued DEUTZ shares.

Deutz CEO expectation for FFG contribution in 2027 (forecast)over €1 billionplanned

FFG will already be contributing additional revenue of over €1 billion in 2027, with an adjusted EBITDA margin of more than 20%

Source: Deutz releases, July 9 and November 5, 2026

Sources
TGOs tgos.io

FFG is to remain operationally independent while forming the core of Deutz's defense business unit.2 Deutz expects it to contribute more than €1 billion in additional revenue in 2027. Its forecast puts FFG's adjusted EBITDA margin above 20% for that year.1

The July 9 agreement covered 100% of FFG's shares. It set a €1.6 billion purchase price, payable partly in cash and partly in newly issued Deutz shares.2

FFG generated around €760 million in revenue in 2025 under German Commercial Code accounting, Deutz reported in July.2

FFG produces, maintains and modernizes vehicles including armored recovery vehicles, infantry fighting vehicles and armored personnel carriers. Deutz describes FFG as an established partner of the Bundeswehr and armed forces in NATO and Ukraine.2

Deutz's defense business recorded €89.2 million in new orders in the first nine months of 2026. The company expects FFG's inclusion to increase defense's share of group orders substantially from the first quarter of 2027.1

The acquisition combines FFG's military vehicle expertise with Deutz's propulsion portfolio. Deutz expects that combination to make it a systems provider for European defense programs.2

Sources (2)
  1. Deutz nine-month 2026 results release, Nov. 5, 2026 www.deutz.com
  2. Deutz FFG agreement release, July 9, 2026 www.deutz.com
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a generic aircraft assembly hall with composite fuselage sections on supports and long wing panels in jigs, morning light through high windows.
Illustration.

Ondas agrees to buy Stemme to expand ULTRA aircraft production

Ondas targets 10 aircraft a month by 2028, combining greater use of Stemme’s German facilities with planned U.S. airframe production.

Ondas announced Nov. 5 that it has signed a definitive agreement to acquire Stemme GmbH, the German airframe manufacturer for its ULTRA long-endurance intelligence, surveillance and reconnaissance (ISR) aircraft. The all-cash transaction would give Ondas full ownership of the supplier as it pursues its production target.1

Ondas entered a definitive agreement to acquire 100% of Stemme GmbH

ULTRA's airframe manufacturer, in an all-cash transaction

Stemmecurrently operates at approximately 25% of production capacityactual

across its Strausberg and Pasewalk, Germany facilities, about 135,571 square feet of design, production and maintenance space

U.S. airframe production capacity345,000 square feet of planned production spaceplanned

Ondas plans to increase utilization of the German facilities and establish U.S. airframe production capacity

targeting 10 aircraft per month by 2028

The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions and regulatory approvals

Source: Ondas release, November 5, 2026

Sources
TGOs tgos.io

In the Nov. 5 release, Ondas Chairman and CEO Eric Brock said acquiring Stemme would give the company “greater control over airframe capacity, cost and schedule.”1

Stemme operates at approximately 25% of production capacity across its Strausberg and Pasewalk facilities, according to Ondas. Those German sites span approximately 135,571 square feet of design, production and maintenance space. Ondas plans to increase their utilization while establishing U.S. airframe production with 345,000 square feet of planned production space.1

Ondas says ULTRA is operationally deployed by the U.S. Air Force and is capable of more than 70 hours of flight time with over 400 pounds of payload capacity.1

The company expects the acquisition to close in the first quarter of 2027, subject to customary closing conditions and regulatory approvals. It disclosed no purchase price in the announcement.1

Ondas expects ownership of Stemme to reduce reliance on an external supplier and enable closer coordination between engineering and production. Ondas Sentinel President and CEO Ryan Hartman said bringing the airframe, engineering and production line together would allow the company to iterate ULTRA’s design for future U.S. Air Force requirements.1

Sources (1)
  1. Ondas release, Nov. 5, 2026 www.ondas.com
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Illustration.

T3 Defense buys KeepZone to expand homeland security sales

The acquisition closed Nov. 4 for $1,539,800 in stock, plus a potential cash earn-out. T3 plans to sell its subsidiaries’ products through KeepZone’s channels.

T3 Defense completed its acquisition of homeland security distributor and integrator KeepZone AI from Nexera Technologies on Nov. 4, issuing 425,594 common shares for all of KeepZone’s stock.1–2

T3 Defense completed the KeepZone acquisition

November 4, 2026

common shares425,594actual

issuing 425,594 common shares for all KeepZone shares

KeepZone’s sales channelsintroduce its subsidiaries’ productsplanned

T3 Defense intends to use KeepZone’s sales channels to introduce its subsidiaries’ products alongside KeepZone’s existing portfolio

T3 Defense Form 8-K, Nov. 6, 2026; company release, Oct. 27, 2026

Sources
TGOs tgos.io

The purchase adds a sales channel to T3, which focuses on manufacturers in areas such as drones, counter-drone systems and tactical robotics.2–3 T3 intends to introduce its subsidiaries’ products through KeepZone alongside the distributor’s existing portfolio.3

KeepZone has several non-exclusive reseller agreements and markets a multi-vendor portfolio covering screening, surveillance, counter-drone technology, AI analytics and unmanned aerial systems.2–3 Its offerings include partner products and its proprietary VocentraAI voice-analysis platform.3

An amendment signed on the closing date increased the stock purchase price to $1,539,800.1 The original agreement, dated Oct. 26, set the price at $1 million.2

The stock payment is accompanied by a potential cash earn-out.1–2 T3’s announcement described that earn-out as 50% of KeepZone’s standalone net profit over the 24 months after closing. The cash payout is capped at $5 million.3

T3 expects KeepZone to become its dedicated homeland security marketing, sales and business development platform. The company expects the platform to extend T3’s commercial reach to critical infrastructure, law enforcement, public safety and border security customers in Israel and international markets.3

Sources (3)
  1. T3 Defense Form 8-K, Nov. 6, 2026 (event Nov. 4) www.sec.gov
  2. T3 Defense Form 8-K, Oct. 27, 2026 www.sec.gov
  3. T3 Defense press release, Oct. 27, 2026 www.sec.gov
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