Swarmer Inc. (NASDAQ:SWMR) said Thursday it entered into a definitive agreement to acquire Ukrainian unmanned ground vehicle maker Ratel Robotics for up to $224 million.
The deal includes a mix of cash and stock. The full value depends on Ratel meeting earnout milestones. Closing remains subject to customary conditions and required regulatory and shareholder approvals.
As of June 30, 2026, Swarmer had $25.3 million in cash and cash equivalents.
Ratel Expands Swarmer’s Defense Platform
Ratel has secured $86 million in contracts this year. It is also in talks with several NATO countries under the “Build With Ukraine” initiative.
