EOS shares surge on MARSS acquisition progress
Electro Optic Systems (ASX:EOS) shares rose 7.1% at May 15’s market open as the company nears the final stages of its acquisition of the MARSS defence technology business.
The momentum follows reports that MARSS secured €102 million in new orders from a Middle Eastern customer this month, boosting its total order book to €135 million and providing revenue visibility through 2027.
Under the revised deal terms, the maximum earn-out cap has been raised to €140 million, reflecting a sharp increase in global demand for "battle-proven" counter-drone systems like the NiDAR platform.
The merger is set to create a combined group with an illustrative order book of roughly $726 million.
The company noted that the final timeline remains subject to standard closing conditions.
At the time of reporting, Electro Optic Systems’ share price was $9.13.
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