Swarmer Inc. (NASDAQ:SWMR) shares rose 4.9% in premarket trading Thursday after the drone autonomy platform company announced a definitive agreement to acquire Ukrainian unmanned ground vehicle manufacturer Ratel Robotics for up to $224 million in cash and stock.
The transaction, which includes undisclosed earnout milestones, is subject to customary closing conditions and required legal, regulatory and shareholder approvals.
Ratel Robotics has secured contracts totalling $86 million this year and is in discussions with several NATO countries under the “Build With Ukraine” initiative, according to the source material. Its unmanned ground vehicles are used for logistics, casualty evacuation, reconnaissance, drone launching and demining.
According to Swarmer, Ratel’s products represented approximately 37% of the 11 billion UAH ($246.85 million) in unmanned ground vehicle procurement contracts awarded by the Ukrainian Ministry of Defense Procurement Agency between January 1 and April 18, 2026.
Ratel Employees Expected to Join Swarmer
Ratel has more than 300 employees who are expected to join Swarmer following completion of the transaction, increasing the combined workforce to nearly 500.
Ratel founder and CEO Taras Ostapchuk will remain in his role and report to Alex Fink, President and U.S. CEO of Swarmer.
Swarmer said its technology has supported more than 100,000 combat missions in Ukraine since April 2024. The company plans to integrate Ratel’s ground vehicle capabilities with its autonomy software following the acquisition.
The transaction is Swarmer’s first major acquisition under board chairman Erik Prince.