Anti-drone tech developer Skylock merges with Technoplast Ventures at $19 million valuation
Anti-drone tech developer Skylock merges with Technoplast Ventures at $19 million valuation
Avnon Group locks in 70% stake in the merged company, which is projecting $15 million in revenue in 2024 and a profit on the bottom line.
The drone interception company Skylock, part of the Avnon Group, is merging with the Tel Aviv Stock Exchange shell company Technoplus Ventures at a valuation of 70 million shekels (approximately $19 million), Calcalist has learned. The Avnon Group will hold 70% of the merged company, which will have a total valuation of NIS 100 million.
Technoplus Ventures was initially set to merge with Arkia Airlines, but that deal fell through. Skylock's projected revenue for 2024 is $15 million, with an expected profit on the bottom line.
Earlier this year, Skylock sold its subsidiary MyDefense to the Bridgepoint fund for NIS 480 million. MyDefense produced drone interception systems, while Skylock has retained its development activities, focusing on integrating its technology into systems purchased from other companies.
