Nuburu to acquire 70% ownership stake in Tekne

Nuburu (BURU) announced that it has signed a new binding letter of agreement with the shareholders of Tekne to acquire a controlling 70% ownership stake in the company, restoring the strategic acquisition framework originally announced in 2025. The agreement follows institutional interactions conducted with Italian Government representatives, enabling the parties to proceed with the transaction framework, subject to final authorization under Italy’s Golden Power regulatory process governing strategic national-interest industries and expected to be initiated in April. Tekne is targeting approximately EUR 50M in revenue in 2026 and more than EUR 100M in 2027, and upon completion of the transaction Nuburu would hold a 70% ownership stake, enabling consolidation of Tekne’s operations within Nuburu’s Defense & Security platform. The agreement restores Nuburu’s original plan to acquire a controlling stake in Tekne. The agreement establishes a structured transaction through which Nuburu will progressively reach a 70% ownership stake in Tekne, based on a reference valuation of EUR 52M for Tekne. This structure replaces the original 2025 transaction framework, which contemplated the issuance of approximately $42M of Nuburu shares to Tekne sellers as acquisition consideration together with a EUR 10.5M capital increase in Tekne. Under the newly agreed framework, no issuance of Nuburu shares to the Tekne sellers is contemplated, and capital deployed by Nuburu is expected to be primarily directed toward supporting Tekne’s industrial development and the expansion of Nuburu’s integrated Defense & Security platform. Nuburu currently holds 2.9% of Tekne’s share capital.