Tessera Acquires Option to Enter Homeland Security Market
News related to:Tessera Defense and Homeland Security Inc. (Formerly BiomX Inc.) · 3 min read
NETANYA, Israel, Sept. 24, 2026 /CourierPR/ -- Tessera Defense and Homeland Security Inc. (NYSE American: HLSQ), a physical security technology company, has announced a significant step in its strategy to expand further into the homeland security market. The company has been granted an option to acquire a majority interest in RT LTA Systems Ltd., an Israeli aerospace and security company that develops and manufactures persistent airborne surveillance and communications systems for military, homeland security, and civilian applications.
RT, which has accumulated more than six million operational hours worldwide, is known for its Skystar™ and SkyGuard™ tethered aerostat systems. These systems can remain aloft for extended periods, providing continuous security coverage while carrying a range of mission-specific payloads, including day/night cameras, infrared sensors, radar, communications systems, and other payloads for intelligence, surveillance, and reconnaissance (ISR), border protection, strategic-site security, coastal surveillance, public safety, search and rescue, and other missions.
The company's systems have also been deployed by security forces in the US, Mexico, Australia, and France, among others. In 2027, RT entered the year with approximately $15 million in backlog, which includes an active, multi-million dollar contract with the UAE as part of a large-scale border-protection project. The addition of RT would not only add an airborne platform capable of carrying multiple sensing and communications technologies but also give Tessera access to markets where it can integrate its intelligence capabilities into existing systems, enhancing their performance and expanding the reach of its broader detection, intelligence, and response platform.
Under the agreement, Tessera has a 90-day option to acquire at 51% of RT, exercisable solely at Tessera's discretion and subject to completion of due diligence. The purchase price will be based on the lower of a $13 million valuation or a formula tied to RT's average revenue and EBITDA over 2026, 2027, and 2028, using audited financial results and structured as an earnout. Tessera will deposit $1,000,000 for the option. If the option is exercised, that amount will be credited toward the purchase price; if it is not exercised, the deposit will be refunded to Tessera.
The parties have also agreed in principle to a licensing agreement covering a broad range of homeland security applications, including border protection and other HLS sectors, regardless of whether Tessera completes the acquisition. Tessera believes the agreement could allow information from RT's airborne platforms to work alongside cameras, detection systems, and other technologies across its broader security platform.
In connection with the transaction, Mandragola Ltd. has agreed to increase its existing credit facility to $7 million. Tessera also plans to use proceeds from its existing at-the-market equity offering program, or ATM, to help fund the acquisition. Over the past quarter, Tessera has raised approximately $5.3 million through the ATM. The final amount needed will depend on the size of the stake acquired and the valuation determined under the agreement.
Tessera Defense and Homeland Security Inc. (formerly BiomX Inc.) is a physical security technology company providing integrated, bespoke security solutions that connect detection, intelligence, and response across complex security environments. The Tessera platform integrates cameras, sensors, detection technologies, AI, and other security infrastructure to identify threats, understand events, and coordinate response in real time. Tessera provides the technology, hardware, and implementation expertise needed to tailor security solutions to the specific requirements of each site, helping customers deploy and optimize integrated security systems across critical infrastructure, energy, digital infrastructure, and homeland security applications.
Forward-looking statements may be identified by words such as "expects," "intends," "plans," "believes," "will," "may," "anticipates," "estimates," "potential," and similar expressions. These statements are based on the Company's current expectations and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results to differ materially from those expressed or implied.
The parties have also agreed in principle to a licensing agreement covering a broad range of homeland security applications, including border protection and other HLS sectors, regardless of whether Tessera completes the acquisition. Tessera believes the agreement could allow information from RT's airborne platforms to work alongside cameras, detection systems, and other technologies across its broader security platform.
In connection with the transaction, Mandragola Ltd. has agreed to increase its existing credit facility to $7 million. Tessera also plans to use proceeds from its existing at-the-market equity offering program, or ATM, to help fund the acquisition. Over the past quarter, Tessera has raised approximately $5.3 million through the ATM.