BSA proposes acquisition of Eonetics tech business

• BSA entered advanced discussions to acquire 100% of aerial infrastructure technology provider Eonetics.
• The consideration includes ordinary, option, and performance shares, while BSA retains a cash balance of approximately $16.8 million.
• The acquisition aims to expand BSA’s service offerings across inspection, surveillance, and connectivity, unlocking access to new recurring revenue streams.

BSA (ASX:BSA) is in advanced talks to acquire 100% of Eonetics, an Australian-developed aerial infrastructure technology business.

The proposed transaction comes after BSA requested a trading halt and voluntary suspension pending this material acquisition announcement.

The transaction consideration comprises BSA ordinary shares, options, and performance shares, with performance shares converting to ordinary shares subject to Eonetics achieving revenue milestones.

BSA stated that the transaction retains a strong balance sheet with cash of approximately $16.8 million as of June 30.

Following the announcement, the BSA share price was unchanged at $0.28.

The proposed acquisition combines BSA's national infrastructure services platform with Eonetics' proprietary tethered drone, software, and remote infrastructure capabilities.

BSA intends to broaden its capabilities across telecommunications, defence-adjacent, emergency response, and public safety markets.