Swarmer shareholders approve share issuance for Ratel Robotics acquisition
SWMR•SWMR•SWMR•SWMR•Swarmer shareholders approved issuing common stock for its acquisition of Ratel Robotics on November 2, 2026. Ratel reported preliminary nine-month revenue of $42.1 million, and the deal is expected to close in November, subject to remaining conditions.
Swarmer shareholders voted on November 2, 2026, to approve the common stock issuance for the acquisition of Ukrainian unmanned ground vehicle manufacturer Ratel Robotics. Closing is expected in November, subject to remaining conditions; the combination would bring together ground vehicle manufacturing and drone autonomy software.
Ratel’s preliminary nine-month revenue was $42.1 million, including $32.5 million in the third quarter. Management projects fourth-quarter revenue of $35 million to $40 million, and backlog was $65.1 million as of September 30, 2026. Performance-based earnouts include revenue targets of $77 million in 2026, $130 million in 2027 and $187 million in 2028, alongside operating-income targets.
