JFB Construction Holdings announced it has entered into a definitive agreement to merge with XTEND in an all-stock transaction valued at an implied $1.5 billion. The deal will create a new publicly traded entity, expected to be renamed XTEND AI Robotics, which will list on the Nasdaq under the ticker symbol “XTND.”
The business combination brings together JFB’s U.S.-based construction and infrastructure expertise with XTEND’s AI-powered autonomous defense technologies, including its proprietary XTEND Operating System (XOS).
Strategic investors supporting the transaction include Eric Trump, Unusual Machines (NYSE: UMAC), American Ventures, LLC, Protego Ventures, Aliya Capital and Agostinelli Group.
The companies expect the merger to close in mid-2026, subject to customary regulatory approvals.
Merger Positions Company as US-Based Defense Robotics Leader
Headquartered in Tampa, Florida, XTEND operates a U.S. production facility that manufactures NDAA-compliant autonomous systems. The merger is expected to significantly expand domestic production capacity while strengthening the supply chain for U.S. and allied defense customers.
XTEND develops next-generation autonomous air, ground and maritime systems that operate on its AI-driven XOS platform. The operating system enables remote management of multiple drones and robotic systems in real-time, allowing operators to execute complex missions while remaining out of harm’s way.
Aviv Shapira, Chief Executive Officer and Co-Founder of XTEND, commented:
“The demand for systems that keep operators out of harm’s way is surging as the global security environment grows more volatile, and this represents one of the largest market opportunities in defense technology today. By combining our platform with JFB, we are acquiring the resources we need to scale our manufacturing capabilities in the US and gaining access to the US public markets.”
The transaction is expected to accelerate the delivery of XTEND systems to U.S. customers, NATO allies and partners in Asia. The expansion of U.S.-based production aligns with broader national priorities aimed at strengthening domestic defense manufacturing.
Following the merger, current XTEND shareholders are expected to own approximately 70% of the combined company, while JFB shareholders will hold about 30% on a fully diluted pro forma basis, excluding equity incentive plan shares.
Strategic Expansion Beyond Construction Roots
For JFB, traditionally known for residential and commercial construction projects across 36 U.S. states, the deal represents a major strategic pivot into defense technology and advanced manufacturing.
Joseph F. Basile III, Chief Executive Officer of JFB, commented:
“What drew us to XTEND is the strength and scalability of its AI-driven operating system. XOS is not just a product, but a core autonomy platform that integrates software, hardware, and mission execution in real-world environments. By pairing XTEND’s operating system and advanced AI capabilities with JFB’s execution, infrastructure, and buildout expertise, we see a clear opportunity to accelerate US manufacturing, scale production responsibly, and support a next-generation defense technology platform built in America and ready for the public markets.”
JFB brings experience in large-scale development, infrastructure deployment and operational execution — capabilities that could support rapid buildout of manufacturing facilities and supply chain networks for autonomous defense systems.
The deal also reflects growing investor interest in AI-driven defense technologies, particularly those capable of supporting remote operations, mission automation and battlefield risk reduction. XTEND reports that more than 10,000 of its operational systems have already been deployed globally.
Financial advisory services for XTEND are being provided by Stifel, while Dominari Securities LLC is serving as exclusive placement agent to JFB. Legal counsel includes Paul Hastings LLP and other firms representing both sides.
Broader Market Implications
The merger comes amid heightened global security concerns and increased defense spending among Western nations. Autonomous systems — especially those that reduce direct human exposure in high-risk environments — are rapidly becoming a priority segment within defense procurement.
If completed as expected, XTEND AI Robotics would enter public markets positioned as a U.S.-based, vertically integrated autonomous defense platform company combining software, hardware and domestic production.
The companies emphasized that the transaction remains subject to regulatory approvals and other customary closing conditions. A registration statement on Form S-4 will be filed with the SEC in connection with the merger.
The forward-looking statements included in the announcement caution that risks remain, including integration challenges, regulatory uncertainties, defense funding fluctuations and broader market volatility.
Still, executives from both firms frame the deal as a transformational move designed to position the combined company at the forefront of AI-powered autonomous defense innovation in the United States.
Originally reported by JFB Construction Holdings in Globe News Wire.
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