Tessera Defense wins option to buy 51% stake in RT LTA Systems for up to USD 13 million
HLSQ•Tessera Defense and Homeland Security received a 90-day option to acquire at least 51% of Israel-based RT LTA Systems for the lower of a USD 13 million valuation or an earnout tied to audited 2026-2028 revenue and EBITDA.
1. Option terms and financing
The option requires a USD 1 million deposit, which will be credited if Tessera exercises the option or refunded if it does not. RT makes tethered aerostat surveillance platforms and reports more than 6 million operational hours and about USD 15 million in backlog entering 2027. Mandragola will expand a credit facility to USD 7 million, and about USD 5.3 million was raised through an at-the-market equity program.
