NUBURU Acquires Tekne Stake for Defense Tech Growth

NUBURU is advancing its strategic pivot into an integrated defense and security powerhouse with a definitive agreement to acquire a controlling 70% stake in Italian firm Tekne S.p.A. The transaction, valued at up to €64.6 million, signals a significant move to bolster NUBURU's capabilities in directed-energy, electronic warfare, and advanced defense systems.

This acquisition is poised to reshape NUBURU's market position, integrating Tekne's established industrial foundation in defense mobility and mission-critical systems. The deal structure involves a combination of capital increases, conversion of existing shareholder financing, and direct share purchases from Tekne's historical shareholders. A crucial element of the agreement is the pre-money valuation of Tekne at a fixed €52 million, with further considerations including equity conversion of approximately €17.692 million in shareholder loans and a cash injection of up to €12 million. An additional component includes a €5.2 million share purchase from existing owners and a revenue-based earn-out potentially reaching €29.692 million.

The strategic rationale behind this move is clear: NUBURU aims to create a scaled defense platform with enhanced exposure to high-growth sectors. The combined entity is expected to offer a comprehensive suite of technologies, including cyber and electromagnetic activities (CEMA), counter-drone solutions, and AI-driven operational resilience. This integration is particularly relevant in the current geopolitical climate, where demand for advanced defense capabilities is escalating across NATO and allied nations. The defense sector, a critical component of national security and economic stability, is experiencing robust investment, with global defense spending projected to continue its upward trajectory.

NUBURU has already demonstrated its commitment to Tekne by providing approximately €16.692 million in interim shareholder financing, with further commitments of €1 million post-agreement signing and potential for additional interim funding. This financial backing underscores the urgency and strategic importance of integrating Tekne's operations while awaiting regulatory approvals. The company anticipates submitting its notification under Italy’s Golden Power regulatory framework within ten days, following extensive consultations with Italian government officials to ensure alignment with national security interests.

Looking ahead, Tekne's business plan projects substantial revenue growth, with cumulative revenues estimated at approximately $655 million between 2026 and 2030. At NUBURU's intended 70% ownership stake, this translates to a pro rata revenue exposure of roughly $459 million over the five-year period, assuming successful transaction closure and achievement of growth targets. This financial outlook highlights the significant commercial potential of the acquisition, positioning NUBURU for accelerated expansion within the defense and critical infrastructure markets.

The integration of Tekne is expected to be a foundational step, complementing NUBURU's existing defense ecosystem, which includes entities like Lyocon, Orbit, and the Maddox Defense joint venture. Alessandro Zamboni, Executive Chairman and Co-CEO of NUBURU, described the agreement as a "transformational milestone," emphasizing the clear path to majority control and accelerated evolution into a scaled defense and security platform. Similarly, Dario Barisoni, Co-CEO of NUBURU and CEO of NUBURU Defense LLC, highlighted Tekne's strategic industrial value and considerable revenue growth prospects.