BiomX Moves to Acquire 60% of Tsoock Defense Technologies for $10.4 Million
BiomX has signed a non-binding letter of intent to acquire 60% of Tsoock Defense Technologies, enhancing its security platform. The acquisition aims to integrate critical infrastructure capabilities into BiomX's existing portfolio, focusing on detection and response technologies.
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BiomX Inc. plans to acquire a 60% controlling interest in Tsoock Defense Technologies for $10.4 million, pending due diligence and regulatory approvals. This acquisition could enhance BiomX's security and infrastructure capabilities, integrating systems like fire detection and access control into its operations.
The deal proposes an initial payment of $300,000, with the remainder payable in quarterly installments over one year. Additionally, BiomX has an option to purchase the remaining 40% of Tsoock for $9.2 million within 36 months post-transaction. This move is intended to strengthen BiomX's defense and security offerings, bridging AI-driven technologies with real-world applications in critical environments.
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