News: Optoelectronics
7 August 2026
NUBURU receives Italian Golden Power clearance to acquire 70% of Tekne
NUBURU Inc of Centennial, CO, USA (a dual-use defense & security integrated platform company) says that the Italian Government has authorized the proposed acquisition by NUBURU Defense LLC of a 70% controlling interest in Tekne S.p.A. under Italy’s Golden Power framework.
Golden Power is the Italian Government’s authority to review, condition or block the acquisition of companies operating in sectors of national strategic interest, including defense and security. The authorization is the principal governmental clearance required under the binding Share Purchase and Investment Agreement signed on 26 May between NUBURU, NUBURU Defense LLC, Tekne and Tekne’s historical shareholders. It follows the Golden Power notification submitted on 5 June and a detailed review process that included supplemental information and engagement with the Italian authorities.
The agreement contemplates closing within 30 calendar days after the Golden Power condition precedent is confirmed as satisfied in accordance with the agreement, subject to the terms of the authorization and completion of the remaining corporate, funding, governance and closing actions contemplated by the agreement and the applicable review mechanisms. Upon closing, NUBURU expects to own 70% of Tekne, obtain majority control and, subject to final US GAAP accounting assessment, consolidate Tekne’s financial results within the NUBURU group.
“Italy examined this transaction in detail and authorized it. That decision opens the path to majority control of an established defense-industrial company with more than 35 years of heritage, about 180 personnel across operations in Ortona, Poggiofiorito and Guastalla and an updated signed order portfolio with approximately $108.7m of normalized residual value, subject to customary validation,” says NUBURU’s executive chairman & co-CEO Alessandro Zamboni. “We have raised the capital, retired about $16.75m of principal obligations, continued supporting Tekne’s working capital and have now achieved the principal regulatory milestone. NUBURU moves from regulatory review to closing and integration execution.”
Final path to closing
NUBURU and the other parties will now progress the corporate resolutions, capital increase, share transfer, governance appointments and documentation required to complete the transaction, while implementing the terms, commitments and any prescriptions applicable under the authorization. The firm expects to announce completion of the acquisition separately following closing.
Business plan required by investment agreement and provided for Golden Power review
The Investment Agreement requires Tekne’s 2026–2030 Business Plan to be prepared and approved in accordance with agreed guidelines in time for the Golden Power notification. The plan provided in connection with the Golden Power review is centered on preserving Tekne’s Italian production footprint, protecting strategic technologies and intellectual property, supporting employment and technical capability development, and establishing security and governance controls appropriate for a strategic defense-industrial company.
Following closing, NUBURU intends to:
- preserve and expand Tekne’s Italian production footprint and strategic know-how;
- protect sensitive information, defense technologies and Italian intellectual property;
- support industrial continuity, working capital and execution of Tekne’s existing order portfolio;
- develop integrated mobility, electronic warfare, counter-UAS and non-kinetic mission packages;
- strengthen governance, security, compliance and public-company reporting; and
- expand access to Italian, EU and NATO defense and security markets, in accordance with applicable Golden Power, procurement, qualification and export-control requirements.
“Tekne brings fielded systems, specialized manufacturing, electronic warfare and CEMA capabilities, defense-mobility expertise and established customer relationships,” says Dario Barisoni, co-CEO of NUBURU and CEO of NUBURU Defense LLC. “We have a clear strategy to integrate those capabilities with NUBURU’s photonics, software orchestration and advanced deployable manufacturing to deliver integrated, governed mission solutions for Italian, EU and NATO defense and security markets, in accordance with applicable Golden Power, procurement, qualification, security and export-control requirements,” he adds. “We expect Tekne to become the industrial foundation of NUBURU’s Italy-centered Defense & Security platform. The authorization shifts our work from regulatory process to industrial execution and positions the combined platform to create significant long-term operational and strategic value.”
Tekne: established scale and a multi-year business plan
Founded in 1990, Tekne is an Italian engineering and manufacturing company whose capabilities span special and military vehicles, defense mobility, electronic warfare and CEMA, tactical communications, counter-UAS applications and civil-security platforms. Unlike a pre-revenue technology concept, Tekne brings operating sites, personnel, customer relationships, fielded systems and an established order portfolio.
- Industrial base: about 180 personnel across Tekne’s operations in Ortona, Poggiofiorito and Guastalla, based on current Tekne management materials;
- Order portfolio: an updated signed order portfolio with about $108.7m of normalized residual value, based on Tekne management materials and subject to customary validation, delivery conditions, modification and cancellation risk;
- Five-year scale: Tekne’s May 2026 Business Plan, prepared under the business-plan framework required by the Investment Agreement and provided in connection with the Golden Power review, contemplates about $648m of cumulative planned value of production for 2026–2030 under Italian domestic GAAP;
- Strategic capability: more than 35 years of Italian engineering, production and systems-integration experience serving defense, government, emergency-response and industrial applications; and
- Margin profile: management believes the margin characteristics contemplated in Tekne’s plan are broadly in line with those observed across the defense sector; this qualitative comparison is not company-specific margin guidance and does not imply a numerical margin target.
If the acquisition closes and NUBURU obtains control, then NUBURU expects, subject to its final accounting assessment, to consolidate Tekne’s results from the acquisition date and separately recognize the 30% non-controlling interest. Management believes that this would create a step-change in NUBURU’s operating scale and industrial profile.
Capital deployed and execution readiness
The regulatory milestone follows NUBURU’s July closing of a $38m public offering, before placement-agent fees and offering expenses. Within days of that financing, NUBURU repaid in full about $15.5m of remaining principal under its December 2025 debenture and $1.25m of Lyocon acquisition notes, eliminating about $16.75m of principal obligations. NUBURU has stated that remaining net proceeds are intended to support the Tekne transaction, acquisition and working-capital requirements and near-term execution of its integrated Defense & Security platform.
Tekne as industrial foundation of NUBURU’s Defense & Security Platform
After closing, Tekne is expected to become the industrial foundation of NUBURU’s Italy-centered Defense & Security platform, contributing defense mobility, EW/CEMA, industrial scale and defense systems-integration capabilities. Subject to applicable Golden Power prescriptions, approvals and formal implementation, its existing Network Contract with NUBURU Defense is expected to remain an operating framework for joint programs within the controlled group, connecting Tekne’s defense mobility, electronic warfare, CEMA and manufacturing with NUBURU’s photonics, non-kinetic effects, operational-resilience software and deployable manufacturing.
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