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Swarmer Plans Up to $224M Deal to Buy Ratel Robotics in Ukraine

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Drone software provider Swarmer plans to acquire Ukrainian unmanned defense technology firm Ratel Robotics in a cash-and-stock deal valued at up to $224 million. The company says Ukraine’s combat-proven drone sector is beginning to consolidate as foreign capital moves in, and that partners can help scale internationally. Swarmer reported Q2 2026 revenue of $216.4M, up 56%.

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