Nukkleus announces agreement to purchase Tiltan Software for $14M

Nukkleus (NUKK) announced the execution and delivery of an agreement to purchase Tiltan Software Engineering for $14 million. “This partnership marks a major milestone in Nukkleus’ expansion into high value aerospace and defense technologies,” said Menny Shalom, CEO of Nukkleus. “Tiltan’s long-standing track record, award-winning solutions, and proven success make them the ideal partner for us. Their advanced AI-powered simulation platforms,GPS-denied navigation systems, and other groundbreaking products position Nukkleus at the forefront of the global defense and aerospace market.” The $14 million purchase price to be paid by Nukkleus will be paid via a combination of cash and shares. is to be paid over 6 months from the closing, and is secured by the shares of Tiltan. The cash portion is to be paid over a period of 6 months from the closing and is secured by a note that would be issued by Nukkleus. At closing, Nukkleus will issue shares in escrow to secure the final cash payment to the seller, with the balance of the shares being returned to Nukkleus if the market price of the shares is higher than the value on the closing date.