Nuburu has been given the go-ahead to acquire Tekne and develop defence capabilities using advanced technologies
The American company is taking control of Tekne with an investment of 35 million, aiming for significant industrial and employment growth by 2030.
Fifteen months – a process that seemed to stall on several occasions – until yesterday, when authorisation was granted by the Italian government under the legislation governing ‘golden power’: Nuburu, an American company operating in the defence and dual-use security sectors, has been authorised by the Italian government to acquire 70 per cent of Tekne, a transaction worth just under 35 million, based on a pre-money valuation of the company of 52 million: 29.692 million has been earmarked for recapitalisation, of which 20.692 million has already been disbursed and a further 9 million is due to be paid in the coming days; a further 5.2 million will be used to purchase an additional 10 per cent from the existing shareholders.
Over 85 per cent of the funds raised through the transaction are allocated directly to Tekne – to strengthen its capital base, boost its working capital and revitalise production – rather than to the selling shareholders.
In effect, Nuburu is taking on not only control of the company, but also the industrial and financial risk associated with its turnaround.
The Technology Centre in Ortona, in Abruzzo, will thus become the hub for Italian manufacturing capabilities, software, electronics, specialised mobility and advanced technologies from the Nuburu ecosystem.
The US company, with an entirely Italian management team, has not simply acquired a vehicle manufacturer, but aims to build a platform in Italia centred on six technological pillars: 1) non-kinetic laser systems and counter-UAS (anti-drone systems, ed.) 2) tactical laser communications resistant to jamming; 3) field-based additive manufacturing; 4) power beaming; 5) underwater laser communications; 6) satellite optical communications.
